Richard Catalano: …delivery systems and services. Gross profit for the first quarter was $0.9 million, compared to $2.5 million in the first quarter of 2023. Gross profit margin was 17.5%, compared to 28% in the prior year period. Operating loss for the first quarter was $1.6 million, compared to a loss of $0.2 million in the same period last year. Net loss for the quarter was $1.5 million or $0.22 per share, compared to a net loss of $0.2 million or $0.03 per share in the first quarter of 2023. In summary, we are not satisfied with our financial performance in the first quarter, but we remain focused on achieving profitability and managing our costs effectively.
Emmanuel Lakios: Thank you, Rich. Despite the challenges we faced in the first quarter, we are cautiously optimistic about building on our recent order wins and returning to consistent profitability. The strategic orders we secured during the quarter position us well for future revenue growth, and we remain focused on executing our business plan to drive long-term value for our shareholders. We are committed to navigating the current economic and geopolitical uncertainties, making operational adjustments as needed to support our financial health. We appreciate the continued support of our shareholders, employees, and customers as we work towards our goals. Thank you for joining us today, and we will now open the call for questions.
Operator: Thank you. At this time, we will begin the question-and-answer session. If you have a question, please press *1 on your touchtone phone. If you wish to be removed from the queue, please press the # sign or the hash key. Our first question comes from the line of [Analyst Name] with [Investment Firm Name].
This is a summary of the CVD Equipment Corporation’s first-quarter financial results for fiscal year 2024, as discussed in their earnings conference call. The company reported a significant decrease in revenue compared to the same period last year, but secured key orders that are expected to contribute positively to future revenues. The company remains focused on achieving profitability and managing costs effectively, while navigating economic and geopolitical uncertainties. Investors are encouraged to review additional insights and data on the InvestingPro platform to better understand the company’s financial health and potential future performance.