Good morning for those of you on the West Coast. Good afternoon for those of us on the East Coast. Welcome to the Sidoti Company March Investor Conference. The next company to present is Superior Group of Companies. With us, we have the CFO, Mike Koempel, and the President of the Branded Products Segment, Jake Himelstein. We'll have a short presentation. It should last about 15 minutes or so, and then the remainder of time will be for Q&A. If you do have a question, you can type it into the Q&A box at the bottom of your screen. With that out of the way, Mike, it's all yours. Thanks, Jim, and good afternoon, everyone. We appreciate your time and interest in the Superior Group of Companies. As Jim mentioned, my name is Mike Koempel. I'm the CFO at Superior Group. I've been with the business about three years, and I'm joined by Jake Himelstein, who is the President of our largest segment in Branded Products. Again, we're excited to have the opportunity to share the highlights of Superior Group and our compelling opportunities for future growth. With that, as Jim mentioned, we'll step through a presentation and take your questions. Just a brief overview before we get into the details of each of our three segments, just to share a few of our investment highlights. Our business was founded back in 1920, and we've got three very attractive, diversified businesses, all of which you'll see later in the deck, are operating in large, profitable growth industries. We've had a history of organic growth across all three businesses, again, with modest shares within their respective addressable markets, and all with strong customer retention. Our segments have high margins. They're profitable and benefit from increasing scale as we grow the business. Our third segment, which is Contact Centers, is our highest margin and fastest growing business. Last but not least, we're proud of the fact that we've got a solid balance sheet driven by strong operating cash flow, efficient working capital, and providing a consistent return to our shareholders through an uninterrupted dividend since 1977. Before we get into each of the segments, just to provide a brief overview of the segments and the size of our business, we just completed our fiscal year 2024. We had total sales for Superior Group of $566 million, and that was comprised of our Branded Products segment at $354 million, healthcare apparel about $120 million, and then our contact center business, $93 million. As you can see on this slide, as we go back to 2019, Superior Group in consolidation has delivered annual growth of 8% over that time horizon. Now shifting to our first segment, healthcare apparel. This is our oldest business among the three segments. When you think of healthcare apparel, think of scrubs that are worn by over 12 million healthcare professionals, worn by doctors, caregivers, and patients. We are one of the largest and oldest providers of healthcare apparel in the country. When you look at who wears medical apparel, you can see here on the left-hand side of the screen, our healthcare apparel is really worn by a broad range of end users. We have scrubs that are worn in acute and non-acute settings across a number of different occupations that you can see here: doctors and dentists, lab technicians, registered nurses, etc. There is also a range of non-healthcare providers that also will be customers of our healthcare apparel. That could be janitors, cafeteria workers, receptionists, housekeeping, etc. As I mentioned before, also patients. Our apparel is ultimately distributed in a number of different ways. About half of our product is distributed in the retail marketplace. That could be brick-and-mortar stores as well as online. Another large portion of our product is really provided and determined by offices or facilities that specify apparel that our customers would be purchasing, again, in acute or non-acute settings. In terms of the type of product that we sell, you can see here on the screen, we have three main brands that we sell our Healthcare Apparel underneath. First would be our Fashion Seal Healthcare brand. This is really the heritage of our business. It goes back 105 years old. This is really driven by value and quality, really to withstand the rigors of the Industrial Laundries that purchase our product. This really represents what we would call the institutional side of our healthcare business, again, primarily scrubs worn by doctors and nurses in hospital settings. Our other two brands, Wink, which is our internally developed brand, is really a large piece of our what we call consumer-based side of our healthcare apparel business. Thirdly, we have an exclusive license with Carhartt, which again is a large recognizable brand that again is sold within more of our consumer-based healthcare business. When we take a step back and look at our Healthcare Apparel segment, you can see in terms of the addressable market, over $4 billion in what we view as the addressable market for the segment. We represent just a small percentage of that market, about 5%. The sales growth over the last five years has been just up slightly, but taking into consideration that we between over that five-year period of time had significant growth related to the pandemic in 2021 and then kind of a resetting of the market, we are starting to show growth from pre-pandemic levels. We are excited about the growth that we have within the digital channel of healthcare apparel that we think will drive further growth as we move forward. Again, as I mentioned earlier, we have a profitable segment with a 7.3% EBITDA margin, strong customer retention over 90%, and our products are worn by over 2 million caregivers on a daily basis. We really feel with our sales channels, both within wholesale, both brick-and-mortar and digital, as well as our own direct-to-consumer channel, provides us a lot of opportunity to reach a wide range of customers and a lot of opportunity for continued growth in this channel. You can see here, just to give you a sense of the customers within our Healthcare Apparel segment, you'll see Amazon, which represents our wholesale digital channel, as well as the likes of SanMar, Scrubs & Beyond, another would be an example of a brick-and-mortar customer. Again, you can see just a wide range of customers and recognizable brands in the market. With that, I will turn it over to Jake to give us an overview of Branded Products. Great. Thanks, Mike. Thanks, everyone, for being here today and listening in. The Branded Products division, essentially at its core, is logoed products and uniforms to some of the largest companies in the world. What we provide is more than just a product. It's a solution for our clients, connecting brands to their consumers and employees. I know you may think of Branded Products as cheap conference giveaways or a uniform T-shirt with a logo, but we really think of ourselves as a solutions provider to our clients, whether it be for things like employee retention plans, customer loyalty, or just creating pride around a company's brand. Why do companies choose us? Brands choose us because we're a one-stop shop where we can fulfill all of a customer's branded merchandise needs. There are plenty of competitors of ours that can provide a single offering to a client, but we're able to offer Promotional Products, Custom Uniforms, Retail Merchandise, Print Signage, Corporate Gifting, all with our own in-house and state-of-the-art Technology Platform, with our own custom sourcing overseas, and with our own warehouses across the world. Most of our competition just doesn't have the ability to do that breadth of offerings for their clients. In terms of opportunities, we operate in a very highly fragmented market. There is no company in the branded product space that has greater than 5% market share. It's a lot of mom-and-pop companies that are, quite honestly, working out of their basement. We don't have competitors that can do the type of things we can do with our largest clients. There is 25,000 Branded Products companies in the industry, and we're the eighth largest in the space. That kind of scale and size really is a massive benefit for us and a huge opportunity for us to continue to grow and take market share. We're the eighth largest, but still only about a 1% market share. Again, an amazing opportunity to increase that share. One of the stats I love on here is that over 5 million Americans wear one of our uniforms to work each and every day. That's a really special number, and that number is growing each year. We've had a fantastic five-year CAGR at 9.2%. As we grow, we're seeing Economies of Scale that allow us to continue to expand our EBITDA margin, which is now over 10%. A sampling of some of the brands we work with. We are industry agnostic. We are region agnostic. We work with some of the largest and most widely respected companies in the world and continue to add more and more logos to this list. Mike, want to take us through Contact Centers? Sure. Contact Centers is our third business, which we operate as The Office Gurus. The Office Gurus is a nearshore contact center that supports both inbound and outbound call services on behalf of a number of different brands across a variety of industries. Why do companies outsource their contact center needs? Actually, many years ago, we faced the challenge of finding sufficient back-office resources at a reasonable cost in the U.S. in order to support the growth of our business. Years ago, we expanded our production office in El Salvador and began to build a nearshore capability to not only meet our internal needs, but also address a growing need for U.S. companies to expand various call center activities for their business. Outsourcing contact center operations certainly enables companies to more quickly scale and gain cost leverage, both in terms of labor as well as technology. At the same time, customer support is not always a core competency of businesses. Outsource providers such as ourselves can deliver dependable, consistent customer experiences in multiple languages. Why do customers choose The Office Gurus? We believe they choose The Office Gurus because our clients prefer a nearshore capability that is more culturally aligned with reliable English fluency. By focusing on the small to medium-sized opportunities, we provide our clients with a high-touch service as compared to larger engagements with thousands of agents that might be largely focused on transactional-type services. We bring consistent processes and leverage analytics and technology, which are all focused on improving the customer experience for our clients as well as making our services most efficient. In terms of the footprint of The Office Gurus, we operate across 10 offices across five nearshore countries, as you can see here on the screen, primarily in El Salvador and Belize, followed by Jamaica, the Dominican Republic, and a small footprint in Florida. Our footprint provides access to various pools of talent to continue to support the growth as well as risk mitigation for our customers. This is an industry where customer quality is of the utmost importance. As you can see, as we're sharing here on the slide, we've been recognized as a leading provider within the business process industry, as well as being recognized as a great place to work within a very competitive labor market. Clearly, the current inflationary environment has helped accelerate many companies' outsource plans as they have realized that remote workforces are obviously the future, particularly in lower-cost nearshore locations rather than in the U.S. Going into a little bit more detail on the Contact Centers, we do feel we are a leading provider to an underserved market represented by small and medium-sized businesses. In fact, we get a lot of our business from customers who are outsourcing for the first time. Our growth is fueled by new customers as well as seat expansion with existing customers. Much like Jake described in Branded Products and I demonstrated in healthcare apparel, here too, Contact Centers operate in a very large market, over $120 billion, and we just have a very small portion of that market share. There is significant opportunity for growth. You can see that our growth rate over the last five years is 21.6%, driving a strong EBITDA margin of 12.6%. Again, just like in the other segments, we have very high customer retention. Here, we've got a net revenue retention of 103%. We've been able to demonstrate not only are we maintaining our current clients, but actually able to continue to grow the seats with those existing clients, as well as adding new customers to the portfolio on an annual basis. Again, just to give you a quick snapshot of the various customers and markets that we provide, you'll see here recognizable names, but again, also cutting across a wide range of different industries that we support. Lastly, just to provide, again, just a few quick highlights from a financial perspective. Earlier, I shared a five-year view here looking at Superior Group of Companies over a longer horizon. Again, we just ended 2024 at almost $566 million in sales. Our guidance for 2025 at the midpoint is $590 million in sales. Again, over the course of the year since 2014, all of our segments have grown at a cumulative rate of 11% per year. Guiding for continued growth in 2025. In terms of our financial position, just to give you one important statistic that obviously we closely monitor and manage, which is our debt-to-EBITDA ratio, you can see that it has ebbed and flowed over time as we make different investments in the business. We just ended the fiscal year at 1.7 times our EBITDA. In a very strong financial position with plenty of capacity, not just within our covenants, but also a significant amount of liquidity available to us between cash and our revolving facility to continue to make the necessary investments to grow our business. In terms of capital allocation strategy, as you can see here, really focused in four areas mainly. I mentioned initially our dividend payment, which we've been paying consistently since 1977. We obviously recognize that's an important value proposition to our investors. At different points in time, we have increased the dividend rate to our investors. Secondly, share repurchases. More recently, we implemented a stock repurchase plan, which was approved by our board back in October of 2024. Just recently, in connection with our 2024 earnings announcement, also announced an additional stock repurchase plan of up to $17.5 million that begins this year. Thirdly, of course, we'll continue to look at and evaluate investments to support the organic growth of our business. In terms of our capital expenditures, we typically invest 1%-1.5% of revenues. Every, I would say, five to seven years, we could have a larger investment. We did more recently or lastly in 2021, where we put new automation into our largest warehouse, where we felt there was the appropriate return on investment. Again, generally speaking, we'll operate in the 1-1.5% of revenues. Lastly, mergers and acquisitions. As I mentioned before, with our improved financial position and capacity within our existing revolver, we do have the ability to take advantage of strategic acquisitions as we look both in the Branded Products segment and the contact center segment, opportunities that would be complementary to those segments and add strategic capabilities to our business. Just sharing a few highlights from a corporate social responsibility perspective. You can look at this at your leisure, and we also have our report that is filed on our website that provides more details for your review. Again, just ending on our investment highlights. As I mentioned before, you can see the four highlights that we have here. With that, Jim, that concludes our presentation. I'll turn it over to you for questions. Great. Great. Start out with Jake. As long as we have him, we might as well get in some Branded Products questions. You have been with the business for a while. You have been through several business cycles. What are the big Macroeconomic Factors that you look at that really impact your business? Is it things like unemployment and inflation, interest rates? What are the things you are engaging? Yeah. Thanks, Jim. Certainly, Macroeconomic Factors play a role. The spend in Branded Products typically lives in marketing, sometimes in Procurement Departments. When there is uncertainty around the economy, whether it be tariffs, unemployment, inflation, interest rates, there can be an impact on spend. We feel that in our business, we are really well positioned to weather this storm. We have actively diversified our supply chain out of tariff countries, and we have a diversified client base that is not impacted by a single macroeconomic factor. The other factor for us is we have talked about it in the presentation. We have a huge addressable market. We are actively taking market share from our competitors who are not as well prepared as we are to handle the current environment. We always view a difficult macroeconomic environment as a fantastic opportunity to grow our business through taking market share. Can you talk a little bit about the seasonality of the business? I know in the last couple of years, you've seen a much bigger second half than the first half. Is that a trend, and do you think that happens this year? There is not a ton of seasonality in the Branded Products business, but we do tend to see the third and fourth quarters be slightly stronger than the first half of the year. Think about employee holiday gifting or companies using up budget before the end of the calendar year. There does tend to be a little bit more strength towards the end of the year that we have seen recently, but not a ton of seasonality. Jim, I might just add elsewhere in our business, the Contact Centers can typically default a little bit more to the back half as well, whereas we're onboarding new customers at the beginning of the year, and then those customers grow that can tend to drive more volume second quarter, third quarter as well. Can you talk about the acquisition pipeline? I know it's been a couple of years since you did a big one. What is the board looking for right now in terms of acquisitions? We're really, as I mentioned in my comments, certainly with the financial position we're in and the capacity we have, we're looking for what I would describe as strategic acquisitions, primarily in the Branded Products and contact center business. Strategic in the sense of does that get us into a different industry that perhaps we have not yet penetrated, or it could be a geography, or it could be a capability that we do not have within the business that we feel could really enable a step function change or growth in that business. As I mentioned, in the fourth quarter, we had a smaller opportunistic acquisition, which enabled us to add a few blue chip customers to the promotional product portfolio. That's really kind of what we're focused on. Jake, if you want to add anything from a Branded Products perspective. Yeah, I'd say, Mike, we have to be actively engaged with a number of targets at the same time. You never know when the time is right for an acquisition target. Some companies we talk with today might not be ready for two or three years to be acquired. We are actively involved in these conversations with companies. When the time is right, we'll know what's right. When we're looking at acquisitions, the target has to be accretive to our bottom line, easy to integrate, good for culture, and potentially bring us into a new line of business. Mike mentioned that, but if it's not doing all four of those things, it's not going to be the right deal for us. You did do a deal in the fourth quarter, a relatively small one. I think you paid about $4 million for it. Can you talk about how that fits in and how that integration is going? Yeah, we made a small tuck-in acquisition in December, a company called 3 Point based outside Portland, Oregon. Integration at this point is complete, which is great. We have a very robust tech platform, as I spoke about in our presentation. We are able to fully integrate the operations of this company in less than two months. What that does for us, it minimizes the distraction of M&A. If we can integrate a company quickly, we can eliminate redundancies within the acquired business and eliminate distractions quickly. All told, I'd say it's going really well. Mike mentioned they have a couple of Blue Chip Clients. We're trying to penetrate those further and get more business. That was the thesis for the investment, getting to some of these large Blue Chip Companies that we did not have a relationship with and trying to expand our share of wallet. I know you mentioned tariffs a little bit in the presentation, but I think it might be one of the overhangs on the stock right now. Can you just tell us what you think would happen should tariffs go in with Mexico and Canada? Sure. I'll start, and then maybe Jake can again speak more specifically to Branded Products. From looking at it at a segment basis, in our Healthcare Apparel segment, none of our production is in any of the tariff-related countries. I think, as we've said publicly, we have our own manufacturing in Haiti, which produces a significant portion of healthcare apparel. Outside of that, again, we produce it in other countries outside of China. From a tariff perspective at this point, because I think it's still, you could describe it as a fluid situation, at this point, no impact from a cost standpoint within healthcare apparel. Jake, do you want to touch on how you're thinking about it from a Branded Products perspective? Yeah. In most instances where we are impacted by tariffs, we will have the ability to pass the related cost through to customers. The majority of the revenue in the branded product segment is ad hoc orders for Branded Products, which is priced on an order-by-order basis. If someone orders 1,000 units of something, we'll price it at that point, inclusive of the current tariff rates. If costs increase, so too will the price charged the client for that order. On the uniform relationships, most of our long-term uniform contracts allow the ability to pass through tariff costs on impacted items. That being said, Jim, if tariffs continue to rise, if there's other things that come up in those programs, there could be a contraction in demand for Branded Products as costs continue to rise. Again, we are better positioned than the rest of our competition to move those sort of programs out of tariffed regions into other regions we currently source from. A lot of the companies that presented today had a blurb on AI and how AI is impacting their business. Do you see AI as a risk for your business opportunity, or have you implemented it at all? We're approaching it as an opportunity, and we have implemented various AI Technologies. Again, I can touch on what we're doing within our contact center business, and then Jake can touch on the application within his segment. Within the contact center business, which is where we get this question a lot, there's a lot of different applications that we've begun to use. It could be anywhere from assisting with recruiting to enabling us to really expand our reach on quality control as we review calls that take place and provide feedback to our agents. We're really looking at the technologies of a way of how can we improve our service in a more efficient manner. We're really looking at it as providing a higher quality service to our customers. In some cases, I mentioned quality control. We used to do that manually, so to speak, and only be able to cover a small percentage of all of our calls, and it would take us an extended period of time to give feedback to our agents. Now with AI, we can review almost 100% of our calls and give immediate feedback and at less of a cost. We are continuing to focus on AI, Jim. Of course, no one knows exactly how far it's going to go and the reach of it, but we are continuing to explore different capabilities and implement those into our business. All right. I think we have time for one more. I'm just going to ask it about share buybacks. I think you did about $10 million. You were authorized to do about $10 million last year. You were authorized for another $17.5 million this year. When can you start buying? Is that a priority, or is that a priority at this point with the stock trading where it is? Sure. Ever since we initiated the first buyback in August of 2024, we've been in the market. As we said publicly, we assess when to buy based on a number of factors, obviously based on what's happening in the market. Whether it's an open market or whether we're in a blackout period and have a 10b5-1 Plan, we continue to evaluate the market and where we feel there is a good opportunity. We are acquiring shares in the market. I think part of getting an additional authorization is, again, just giving us that flexibility to be in the market again when opportunistic, and we'll continue to approach it in the same manner. We are at a time. I appreciate the fact you did the presentation today. You sat through the meetings. I think it's a very interesting time to look at the name. It's 5% dividend at this point. Very attractive. I think, yeah, right. Right. Even I think with conservative guidance, you're looking to grow in that mid-single digit range. I think it's a good time for investors to take a look at the name. Thank you, Michael. Thank you, Jake. I appreciate the update, and I will talk to you only about six weeks away from another earnings call. All right. Thanks, Jim. Thanks, everyone. Appreciate it. Bye-bye.