Good afternoon, and thank you for joining Landec's Fiscal 2022 First Quarter Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, I will provide instructions on how to ask a question. Now, I would like to turn the call over to Jeff Sonnek, Investor Relations at ICR. Good afternoon, and thank you for joining us today to discuss Landec Corporation's first quarter fiscal 2022 earnings results. On the call today from the company are Dr. Albert Bolles, President and Chief Executive Officer, John Morberg, Chief Financial Officer, and Jim Hall, President of Lifecore. By now, everyone should have access to the press release, which went out today just after 1:00 P.M. Pacific or 4:00 P.M. Eastern. If you've not received the release, it's available on the investor relations portion of Landec's website at ir.landec.com. Before we begin today, I'd like to remind everyone of the safe harbor statement. Certain statements made in the course of this conference call contain forward-looking statements. It's important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning risk factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the company's filings with the SEC, including, but not limited to, the company's Form 10-K for fiscal year 2021. Copies of these filings may be obtained from the company's website. With that, I'd now like to turn the call over to Al. Thanks, Jeff. Good afternoon, everyone, thank you for joining us today. On today's call, I will provide highlights from our fiscal 2022 first quarter results. Jim Hall will review recent developments at Lifecore. I'll cover our operational progress at Curation Foods, John Morberg will discuss our financial results and fiscal 2022 outlook. We will open the call for your questions. We had a strong start to fiscal 2022 with our first quarter performance, where we generated consolidated revenues of $129 million and consolidated Adjusted EBITDA of $4.4 million. As we anticipated, the drivers were margin-related, with a 7% increase in consolidated gross profit and a 42% increase in Adjusted EBITDA, both of which were achieved despite a 5% decrease in our revenue, which is explained by the planned contraction within our Curation Foods segment. Moreover, I'm pleased with our ability to drive Adjusted EBITDA growth at both of our operating segments in our fiscal first quarter. Lifecore grew revenue by a modest 1% but drove Adjusted EBITDA growth of 57% based on some mix-related benefits. At Curation Foods, we were pleased to generate segment gross profit margin of 11% and grow Adjusted EBITDA by 25%, despite the ongoing strategic contraction of revenue as we continue to rationalize SKUs and simplify that business. We are on plan through the first quarter and continue to feel good about our fiscal 2022 outlook. As a result, we are reiterating those objectives here today, which will call for our full-year consolidated revenues of $545 million-$554 million and consolidated Adjusted EBITDA of $33.3 million-$35.5 million. We have the benefit of a nimbler organization, which, as I hope you can see, is translating to improving margins. We have more work to do, but we are on the right track. We have a solid foundation at both our businesses and expect to drive more consistent results going forward as we work towards delivering enhanced shareholder value. With that, I'll turn the call over to Jim. Thank you, Al. Building on our fiscal fourth quarter update, we continue to make headway with our operating initiatives, including the $1.6 million investment in sales and marketing that are planned for fiscal 2022 that we discussed last quarter. I'm pleased to report that we're on track with the build-out of our development pipeline as we prepare for the future. In the fiscal first quarter, we signed development agreements with two additional companies and started work on one new project. This brings our development pipeline to 23 projects, which are spread across early phase clinical development with five customers, phase I and II clinical development with eight customers, and phase III clinical development and scale-up commercial validation activity with 10 customers. We have also completed one development project which received FDA regulatory approval and have transitioned that product into commercial production. In addition, as we continue to build and prepare the organization to advance and expand our development pipeline, activity remains strong, and we remain in active discussions with many potential new project candidates to continue to build on our pipeline moving forward. We operate in the amazing CDMO industry with strong fundamentals. Lifecore is perfectly positioned to take advantage of the growing CDMO opportunities to deliver attractive financial returns to all of our stakeholders. We are a beneficiary of the significant trends towards outsourcing of new drug development, and our syringe and biofilling capabilities align perfectly with the powerful trends in new injectable drug applications that are utilizing those modalities. Limited injectable drug manufacturing capacity creates an opportunity for Lifecore to grow and also extend our reach through investments in new capabilities to meet the industry's ever-growing needs. Our expertise in viscous materials and our world-class quality system that supports drugs, biologics, medical devices, and combination products enables us to stand out as a specialized leader in the CDMO industry. We are preparing for the future through operational and capital investments with the $1.6 million investment in the P&L this fiscal year through sales and marketing and development resource expenses to expand our reach with new customers and to increase our development service capabilities, which ultimately allow us to continue to expand our development pipeline and open new sales channels that complement our existing capabilities. From an operational perspective, we are intensely focused on enhancing our organization to ensure that we remain prepared to meet our growth objectives. This really comes down to attracting and retaining great people with the pertinent technical capabilities to help Lifecore grow. In response, we recently established Lifecore University to educate and train our next generation of technical professionals in the critical operations of aseptic filling processes. In August, we graduated our first class, who will now use their knowledge to make an impact on our sales growth and lean culture. On the capital side of the house, we are focused on maximizing the revenue-generating capacity within our current infrastructure and looking to the future to source and qualify the necessary equipment to keep up with growth and expected capacity needs. We continue to expect capital investment in fiscal year 2022 of approximately $32 million towards expanding our filling capacity beyond our current 10 million units to reach approximately 37 million units over the next five years. This investment will support future capacity needs and nearly double Lifecore's revenue-generating capacity of our aseptic fill finish business. Finally, a brief update on the channel inventory that we spoke about last quarter. As a reminder, in the fourth quarter of fiscal 2021, we learned that many of our commercial customers carried larger inventories of finished products during COVID due to the temporary deceleration in procedure volume. In the fiscal 2022 first quarter, this dynamic explains a flattish year-over-year revenue growth, and we continue to expect a similar situation in fiscal second quarter. Expectations for inventory to rebalance remain focused on mid-fiscal year based on the latest communication with our customers, but could change based on market forces and procedure volumes. Now I would like to turn the call back to Al. Thanks, Jim. Curation Foods started fiscal 2022 strong. Perhaps most importantly, we are hitting the gross margin targets that we've been working towards as a result of Project SWIFT. We delivered on our steady state target of 11%-14% in fiscal 2021 fourth quarter, which was a significant milestone for the business. In fiscal 2022 first quarter, we achieved 11%. We are standing by our commitment to deliver that same range of 11%-14% for the full fiscal year, which speaks to the massive operational enhancements that we've made over the past two years to put this business on firm footing as we prepare and shift our energies toward growth. Our focus this year has evolved to drive efficiencies in our operational performance through maturing our operational excellence program, which we refer to as ZEST. Zero Waste, Employee Engagement, Standardization, and Training. This is an approach based on the lean principles that are well recognized for improving operational performance. ZEST is only possible now that we have done the work to simplify the business through strategic moves to reduce organizational complexity, divest non-core assets, broaden leadership accountabilities, and flatten our management structure. Of course, inflation is having a significant impact across a variety of industries, and here at Curation Foods as well. While we'll continue to believe that we are in a relatively better position given all the operational enhancements we've made over the past two years with Project SWIFT, categories such as packaging, freight, and supplier-related costs are things that we are dealing with daily. We have a focused program to drive continuous productivity through the supply chain with a concerted effort to offset cost increases. Where we are unable to offset cost increases, we are also working with our sales teams to implement price increases as we are committed to maintain gross margin in the 11%-14% steady-state range that I have previously discussed. Many supply chains remain dysfunctional post-COVID as well. We are seeing issues with some suppliers of salad dressings and other inputs that are complicating our operation, and to a limited extent, subduing our ability to meet demand. As expected, our fresh packaged salads and vegetable business declined 7% in the first quarter of fiscal 2022 due to veggie trays being discontinued from club stores as a result of COVID. Fewer people being able to congregate. We are now just starting to see retailer interest in bringing back trays. We see an opportunity for the business to pick up as fiscal year 2022 progresses. Our avocado products business was essentially flat in Q1 of fiscal 2022, partly due to SKU rationalization with certain customers, and a timing delay in our promotional activity as our guacamole now or squeeze product test was delayed from Q1 into Q2. We remain excited about our growth in the squeeze product. We continue to pick up additional customers, and we are now capable of bidding on private label guacamole opportunities as our HPP line is now in production. On the commercial front, our retailing merchandising efforts related to resets and new items are continuing to build as we hold additional top-level customer meetings. As planned, we are now seeing introductions of our new products starting to hit the shelves. These products have been delayed for as long as a year due to COVID and include our buffalo cauliflower, Spicy Sweet Kale Salad, and Ready-to-Wok kits. We also introduced a unique packaging design, a saddle bag, into one of our large club store customers. It is outperforming expectations. The saddle bag replaces a 28-ounce salad with two 14-ounce salads that are in separate bags but fused at the top. This allows consumers to open one salad at a time with a smaller portion size, retaining freshness on the unopened bag. We see the packaging format rolling out beyond the test and improving our overall sales in the salad category later in the year. On the whole, I'm feeling like we are in a good spot. We have the innovations ready to go. We have distribution accelerating across North America. We expect to see momentum with resets as we move through fiscal second quarter and into the second half of the year. I will turn the call over to John. Thank you, Al. I'm pleased to share with you our financial results for the first quarter of fiscal 2022. I will begin with a summary review of each segment before concluding with the consolidated financial review. Starting with our Lifecore segment, first quarter revenues ended at $22 million, a 0.7% increase over the same period of the prior year. CDMO revenues posted an increase of 8% to $17.8 million from the prior year, primarily due to the timing of aseptic commercial shipments. Fermentation revenues decreased 22% to $4.2 million, primarily due to the channel inventory rebalancing that Jim discussed, as well as difficult growth comparison in the prior year where this revenue category was up 620%. Gross profit margin improved by approximately 330 basis points versus the prior year to 26.3%, largely due to improved product mix. Segment Adjusted EBITDA totaled $2.3 million for the quarter, a 57.2% increase over the prior year, and Adjusted EBITDA margin was 10.4%, marking 375 basis points of improvement versus the prior year. Let's turn to our Curation Foods segment results for the fiscal first quarter. Revenues totaled $106.8 million, a 6.2% decline from the prior year first quarter. Fresh packaged salads and vegetables declined 7%, which was primarily due to the planned reduction in the lower margin legacy vegetable and tray business. Avocado products revenues were approximately flat versus the prior year. Gross profit margin improved by 100 basis points versus the prior year to 11%, which is consistent with our expectations to achieve steady-state segment gross margins in the range of 11%-14% for full year fiscal 2022. Adjusted EBITDA for the quarter totaled $3 million with a corresponding margin of 2.8%. Briefly turning to our consolidated financial performance. Fiscal first quarter revenues declined 5.1% to $128.8 million. Selling general administrative expenses decreased $2 million versus the prior year to $15.9 million in the first quarter. Consolidated Adjusted EBITDA grew 42% to $4.4 million for the first quarter as compared to $3.1 million in the prior year period. Let's now turn to our cash flow performance. Cash provided by operations was $0.8 million for the first fiscal quarter ended August 29, 2021, compared to cash provided by operations of $17 million in the prior year period. Cash from investing activities improved by $38 million compared to the prior year, driven primarily by proceeds from the sale of the Windset Investment of $45.1 million. At the end of the first quarter, our net debt was $155.8 million. We continue to work toward improving our financial position and create greater financial flexibility to ensure that we can execute our strategic plans as we similarly and strategically review each and every aspect of our businesses to ultimately enhance shareholder value. With that, I'll transition to our outlook for fiscal 2022, which we are reiterating today across the board. We continue to estimate consolidated revenues in the range of $545 million-$554 million, representing a range of flat to +2%. Consolidated Adjusted EBITDA remains in the range of $33.3 million-$35.5 million, representing an increase of 6%-13%. At the segment level, we are guiding Lifecore revenues to a range of $105 million-$108 million, representing growth of approximately 7%-10%. An Adjusted EBITDA in the range of $26 million-$27 million, representing an increase of approximately 6%-10%. Curation Foods revenues are expected in the range of $440 million-$446 million, representing a slight year-over-year decrease of flat to down 1.4%. Adjusted EBITDA is expected in the range of $12 million-$13 million, representing an increase of approximately 9%-18%. As you think about the segment level guidance and how it builds into our consolidated outlook, we think it is helpful to share some framework to inform your modeling and judgment of our future performance. First, starting with Lifecore. As discussed last quarter, Lifecore's top-line growth in FY 2022 is hindered by approximately 500 basis points due to excess customer inventory as a result of a delay in elective procedures. The expectation is that this will rebalance at the end of our fiscal second quarter, which results in flattish expectations for growth in the first half, then transitioning to substantial second half growth to meet the plan we are putting forth today for growth of 7% to 10%. Layering on the 500 basis points inventory headwind, we bridge back to Lifecore's long-term expectations for compound annual revenue growth in the low to mid-teens. From an Adjusted EBITDA perspective, we now expect the first half to approximate less than the 30% of the full year guidance that we anticipated previously due to shifts in expected sales mix. For the fiscal second half, growth should recover in a very material fashion to meet our guidance for the fiscal year, which implies an increase of approximately 6% to 10%. From a gross margin perspective, for the first half of the fiscal year 2022 as compared to the prior year first half, we anticipate a lower gross margin rate due to product mix. As Jim discussed, please keep in mind that the business is investing in sales, marketing, and development activities to drive longer-term development revenues and to enhance some capabilities in anticipation of future growth. Adjusted EBITDA margin expansion on the higher revenues is temporarily muted, but expected to resume over the intermediate and long term. Shifting over to the Curation Foods segment, we continue to expect a fairly consistent year of flat to modest quarterly revenue growth in the next three quarters. Gross margin has been an important KPI for Curation since embarking on Project SWIFT. We expect to drive additional gains in fiscal year 2022 as a result of those operational enhancement and simplification efforts that Al spoke to. We ended the fiscal first quarter with a segment gross margin of 11%. We believe that we will meet our steady-state goals 11%-14% on a full year basis for fiscal year 2022. The inflationary pressures we are now seeing in our business, like so many other companies, will negatively impact our second quarter. However, we anticipate that these headwinds will be offset by future price increases and cost-saving initiatives in the second half of fiscal 2022. From an Adjusted EBITDA perspective, we expect to realize a decrease in Q2 as a result of the near-term inflationary impacts. However, as we look out to the fiscal second half, adjusted EBITDA growth is expected to resume to achieve the full-year segment guidance we are reiterating today. Finally, from a CapEx perspective, in addition to the $32 million at Lifecore, we plan to spend more modestly at Curation with up to $7 million on projects primarily related to maintenance CapEx and some minor automation enhancements. With that, operator, please open the call for Q&A. Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate that your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star key. One moment please while we pull for question. Thank you. Our first question is from Mark Smith with Lake Street Capital Markets. Please proceed with your question. Hi, guys. First couple of questions on Curation. Just wanted to check. You guys talked last quarter a little bit about grocery store shelf reset. What are you seeing here? What are you seeing being pushed out, and kind of your expectations as we move through the next couple of months? Yeah. Hi, Mark. How are you today? I'm well, thanks. Yeah. The resets are starting to happen. I think you noticed that our guacamole now tests. The reset was pushed out a couple of months, which delayed our testing, but that's now happening. We're getting our new products now into many customers. We're excited about our buffalo cauliflower product that's off to a great start. Ready-to-wok is off to a good start. Our Spicy Sweet Kale resets happened in Canada. We're now national in Canada with that product and have begun to ship to other customers here in the U.S. It's really good, Mark, to see that the resets are happening, and we're kind of getting back to normal here on the timing of those things. Okay. Similar question, just as we look at food service, we're hearing a little bit more negative kind of chatter coming out of food service here over the last maybe two months. Any update on kind of as you've got good fingers on the pulse of that business on what you're seeing within food service? Yeah, we're actually doing well in food service. We picked up some new distribution with our green beans, some other salads. We're not seeing a slowdown in food service. It's nicely ramping for us. We also see the away from home, like the HelloFresh products. Our demand is very strong on that, and we're also off to a very good start in our e-commerce business with Amazon. Okay, great. Just turning to Lifecore a little bit. Can you just walk through a little bit the gross margin there and some of that delta? Was this product mix? Was this driven primarily by the inventory stocking? Walk us through any additional insight you can give us on the gross margin there. Yeah, sure. We can do that. John, do you want to take Mark through that? Yeah, sure. It's primarily just product mix, right? The combination of the products within the CDMO side with the aseptic filling, the manufacturing, principally just driving the gross margin story there. Okay. Not as much an impact from the inventory stocking or does that have maybe some of the impact just as that then impacts the product mix? It's just really just on the sales side, on the aseptic filling side, just really strong demand there, really driving and assisting with the margins for the quarter itself. Okay. Yeah, we're really pleased to see that strong performance of the gross margin for the quarter. Okay, great. Thank you. Thank you. Our next question comes from Anthony Vendetti with Maxim Group. Please proceed with your question. Thanks. Yes. I just wanted to check on the logistics contract with Castellini, I think it is. Where is that? I know you're outsourcing that, but where is that in terms of being completely rolled out? Is it partially rolled out? When it is completely rolled out, what type of savings, either on a dollar amount or gross margin improvement, what can you tell us about that and the opportunity there? That seems like a good opportunity to take out some costs. Yeah. Hi, Anthony. We just started to roll it out in Q1. We are fully rolled out and beginning to ramp it up. We are seeing already with a couple customers, one of the big reasons we wanted to do this was to get to not only be more efficient but more effective. We're shipping to several customers five, six days a week now, where before we were only doing three. That's having a positive impact for us. I am really pleased that we got that partnership done because I think you know the impact of freight costs these days. I can't imagine where we would be if we would not have done that project, having a really strong partner with Castellini. I've been to Cincinnati twice, met with their CEO. We're getting our teams integrated. We're rolling it out. We're really happy to see that. We're expecting somewhere in the neighborhood of around $1 million of improvement this year. That's where we are. Okay, great. Overall, it should save you $1 million, but it's not just the savings, it's the efficiency, the benefits to the customer, the on-time delivery, all that is critical, right, going forward? Yeah. Anthony, absolutely right. That's the real reason why we did it. I mean, obviously, we want to save costs. Obviously, they're professionals at this. We were not. They're able to hedge their fuel. We never had the scale to do that. The real opportunity is to get more fresh product on the shelves. It's to decrease our shrinkage on the shelves, which we're starting to see that happen with a couple customers where we are getting the five, six-day delivery per week program in. We are now just talking about white space, because I think as I've mentioned before, Anthony, if you drew a circle from Minnesota to Texas, there's a lot of white space that we were not able to get to before. Now with Castellini, we're able to start talking about with our sales force, how can we get after that white space, particularly on the Eat Smart side, and really begin to get growth. It's growth that I call news without SKUs. We don't have to invent anything new. It's just to get to customers that we couldn't get to before. Okay. Lastly, on the cost side, are there any other costs that you're looking at or that you've identified that you can take out of the system in general, not just logistics, to offset some of the inflationary prices that you're seeing? We're taking a look at, on the procurement side, opportunities that we're looking at to partner stronger with our key growers, to work closer with them on our grow contracts. That's an opportunity. We spend $150 million a year there, and we are beginning to work a whole lot closer with them. I know John is doing some work in the space of inventories. John, anything you want to add there? Yeah. I mean, I think the other big thing is that we've spent so much of the year in integrating other facilities as well. That just takes a lot of time and effort. Now that we've finished that, we can really concentrate on the four walls of our current facilities. Our teams are really focused on trying to sweat the assets that we have and trying to get more efficiencies. With our Project ZEST and the continuous improvement, we think there's just still great opportunities for us. We've got several business initiatives that we're tracking that are in place that are a big part of really trying to offset these inflationary pressures going forward. We're really excited about those. Yeah, Anthony, our [Tanok facility in Mexico is operating extremely well. We got ZEST really up and going in the second half of last year. You saw the impact in Q4. We have a really highly engaged workforce in Guadalupe. We just, in the first quarter of this year, got it institutionalized in our Bowling Green facility, which is starting to pay dividends for us as well. It's exciting to see the engagement in the workforce inside our four walls. We're not having labor issues like you may hear from other companies. It's exciting to see us being able to roll that out, get it moving, and get it institutionalized and really begin to sweat the assets. Okay. Excellent, guys. Thanks. I appreciate it. I'll hop back in with you. Thank you. As a reminder, if you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate that your line is in the question queue. Thank you. Our next question is from Mitch Pinheiro with Sturdivant & Co. Please proceed with your question. Hey, good evening. A couple of things here. First, just some housekeeping for a second. In the press release, the restructuring charges and non-recurring as part of the Adjusted EBITDA was $3.3 million, and I realize there's some tax benefit. In the footnote, it says $4.9 million. What's the difference between those two? $4.9 of the restructuring charges and the $3.357 that I'm seeing in the table. Yeah. John, you want to take that? Yeah. Hey, Mitch. You know what? I probably need to look at that and get back to you on an answer to that. Okay. That's fine. That's fine. As far as I'm bouncing around here. Debt. The debt ended at $155 million. You're spending, obviously, some capital. Is it fair to assume that debt will be at $155 million or maybe slightly higher at fiscal year-end 2022? No. With CapEx and everything, we still see debt, as we discussed last quarter end, somewhere around $180 million of net debt by the end of the year. $180 million of net debt. Okay. Yeah. That's high. That would put us just under 5 x leverage. That's considering we're doing around $32 million of CapEx for Lifecore, up to $7 million for Curation. It assumes some operating cash flow on the GAAP statement of probably $6 million-$8 million, $15 million or so of free cash flow after the Windset investment. Obviously, the Windset investment helps us by doing and allowing us to do that type of investment. Okay. No, that's fine. You may have mentioned this, I might have missed. In the Yucatan business, whole guacamole business, what were margins in that business like year-over-year? We don't give margins out individually for those, the gross margins itself, but they've substantially improved, for sure. Okay. I think as we said in previous conversations, when Al took that business over, we essentially didn't hardly have margins, and that was a big part of Project SWIFT, was really operating and fixing that facility. Now that's been a big part of fixing the whole Curation story. Is that still a high 20%, 30% kind of gross margin business? Well, we don't give guidance out. It's not that high to that level. We haven't given guidance out on gross profit at the segment level. It's not that high, though, but it's a good margin. Okay. I thought that's what the target margin was. My memory may be a little off. Okay. Then one for Jim. Any color on the ZYNRELEF roll out? I mean, has it gone smoothly? Any feedback from Heron on feedback they're getting? Any color would be helpful. From our perspective, things are going according to plan. Production's right in line with what we projected. I'll refer you to Heron's recent releases and Barry's comments. I think they're happy with the way things are going and getting good feedback, but I really can't provide much more than that. From our perspective, it's right on track and nothing out of the ordinary for us. Okay. I guess the last question, going back to Curation. Al, you may have talked about this, as you look at pricing and your cost savings combined that will help offset the inflationary pressures, what's the mix there? Is it 50/50? Do you need more pricing than cost savings? Is it going to be more cost savings than pricing? Well, for the fiscal year, I would say it's double on our productivity through our ZEST program and then over what we're going to take for pricing during this fiscal year. I'm sorry. I didn't understand that. You asked for the mix. Our productivity would be 2x of savings versus what we're beginning- Oh, 2x. I didn't hear that. Right. I got it. Okay. Yeah. Got it. Okay. I didn't hear the X. I guess last question is, I guess we should finally see, and it's been a long time, revenue growth, in the third quarter. Is that when, as a company, on a consolidated basis, the third quarter is we're back in the black on growth? Is that a good assumption? Yeah, we have confidence in our guidance for the year. By the time our productivity plans start to come to fruition, pricing taking hold. As I said, we are very excited and we're off to a good start with our innovation. We're picking up new customers that we haven't had before, in the Midwest as well as some other channels. We have a big focus on food service this year. We expect those things to start to really pay off for us to see better profits and better top-line growth in the second half of the year. Yeah. Okay. Mitch, from an overall perspective, yeah, definitely. There's definitely a meaningful growth with the Lifecore side, too, from the top line to hit the overall 7%-10%. We'll definitely start seeing overall consolidated revenue growth in the third quarter. Okay. Yeah, that'll be nice when you need to get the revenue growing again. It's been quite a year and a half, but it's sort of closer than it's ever been, I suppose. Thank you for your time. Thank you. Thank you. Our next question is from Mike Petusky with Barrington Research. Please proceed with your question. Yeah. First one's for Jim. Did you all say that second quarter Lifecore revenue should be roughly flat year-over-year? Did I hear that or no? Yeah. This is John. Yeah. It should be somewhat flattish. Okay. The year-over-year of the first half is somewhat flattish, basically. Okay. If you then sort of proceed with the math to get to the lower end of the yearly guide in top-line growth at Lifecore has to be clicking off sort of mid-teens growth in the second half. I guess my question is why should that occur? Yeah. Well, we're very comfortable with what's in the pipeline and what our customers are forecasting to have a very strong second half. As well as, remember, we're also investing in the P&L, and we're already starting to see with our investment in the sales marketing side, including starting to add to the pipeline that we're seeing the opportunity there that will then translate into the top-line sales. Yeah, Mike, this is Jim. Things are back to full speed ahead in the second half of the year. We're seeing inventories work through like we projected and project that to be done in the second half. That includes uptick in production in the second half, which is an uptick in HA. We have a lot of activity in our pipeline on the development revenue front in the second half of the year. You are right. The second half of the year growth is high, but it's as we projected. The first half of the year is playing out exactly like we had expected. Q1, we're happy with where that finished. Looking at what we see from our customers, barring any COVID surprises, things are back on track. The second half of the year is going to be a big growth year, growth half for us that brings us into our guidance. Al, the price increases that you're going to put through, I guess, on the food side, has any of that been done or is that to be done? The majority of it is being done now. It takes a little time at the retail sector to get the prices in. Most of the dollars will be realized in the second half of the year. We are taking some surcharges on freight to where we can. For instance, in the food service side, we are taking those as we speak now. The majority will hit in the January timeframe. Okay. When you guys sort of model out, "Hey, we've got to offset these inflationary pressures," and you talk about cost savings, and you talk about price increases. I heard the 2x on the cost savings versus pricing. Can you give us a, and I may have missed it if you gave this, forgive me, but what is the dollar figure we're talking about in terms of your estimated inflationary pressures for fiscal 2022? Well- Yeah, John. What we're saying, Mike, is we think it's a couple hundred basis points in the second quarter, is really what we're saying. That we're basically trying to cover that. We will cover it really through the balance of the year with pricing and with some cost savings. We really feel like the pricing itself, on an annualized basis, would cover all of the inflation. Okay, 200 basis points is what I should hear or what I should take away? Yeah. In the second quarter. Yeah. All right. On avocado, what's your current outlook for top-line growth in that business in this fiscal year? Yeah. Right now we think it's around the low single-digit growth. It's still growing. Right. Okay, like 2% or 3% for the year? Yeah. We were saying it was probably mid-single digits, probably. Just a little bit of delay with the test here. We did mention, I don't know if you caught it, we've invested in the high-pressure line in Tanok. That enables our sales force now to go after private label. Yep Which is the fastest-growing part of our avocado products. We are actively bidding private label business as well. Most of which would not probably hit till later in the year, just by how they do their bidding. We're excited about the opportunity now that we can go after private label, where we were blocked before because we did not have high pressure. Just one other question, and forgive if I missed this. You guys give a lot of information. Expectation for gross margin in Q2, do you expect that to be better than gross margin Q2 a year ago, or do you expect that to be flattish or worse? Yeah, no. We still think it's going to have some impact this year, but we still believe it's going to be better than last year in the Curation side. No. We still intend to grow. I'm talking about consolidated gross margin. I think it's going to be still a little bit better than last year, but on the Curation side, we'll be a little bit better than last year and not quite as strong on the Lifecore side. In summary or in total, it should still be a little bit better than last year. Okay. Very good. Thanks, guys. I appreciate it. Thank you. Thank you. There are no further questions at this time. I would like to turn the floor back over to Dr. Bolles for any closing comments. Thank you again for your interest in Landec Corporation and your participation on the call today. We look forward to talking to you once again when we release our fiscal second quarter results. Thank you very much. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation. Have a wonderful evening.