Apr 23, 2018 • 10:00 am ET



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H.O. Woltz III


Turning to CapEx, as reflected in our release, capital outlays totaled $9.3 million during the first half of the year, driven by the exercise of the purchase option on our previously leased Houston facility and additional investments in our ESM manufacturing capabilities.

We continue to expect fiscal 2018 CapEx to approximate $21 million which includes the addition of an ESM production line and ancillary equipment, the purchase of the Houston facility and further upgrades to our PC strand manufacturing technology, and in addition, investments in our information systems upgrades and other routine maintenance.

We're optimistic that construction markets will strengthen in 2018, driven by growth in both private non-res and infrastructure spending and the stimulated impact of the new tax law. We'll continue to be vigilant in pursuing attractive growth opportunities, both organic and through additional acquisitions and we remain focused on improving our operational effectiveness and realizing the anticipated benefits from the substantial investments we've made to lower manufacturing costs, reduce lead times, and improve quality.

This concludes our prepared remarks and we'll now take your questions. Christie, would you please explain the procedure for asking questions?