Ladies and gentlemen, thank you for standing by. Good day and welcome to the WD-40 Company First Quarter Fiscal Year 2021 Earnings Conference Call. At the end of the prepared remarks, we will conduct a question and answer session. To register a question at any time during this call, please press star one on your telephone keypad. Our growth aspirations and believe we can grow the product line to approximately $100 million in revenue. In the first quarter, sales of WD-40 Specialist were $11.5 million, up strong sales in all three [inaudible] and retain talented Tribe Members and to grow Tribe Member engagement to greater than 95%. I have never been so proud of our Tribe. One can thrive in some unexpected. It's said that luck is what happens when preparation meets opportunity. While we remain saddened that the pandemic continues to impact so many lives around the globe, we're pleased that our products are creating more [inaudible] and ride the changing waves, particularly as it relates to the e-commerce channel, where we experienced global sales growth of over 90% in the first quarter. Now let's take a closer look at what's. We're up 16% in the first quarter to $54.2 million. Sales of maintenance products increased 16% in the Americas due to increased sales in the U.S., Latin America, and Canada, which all experienced double-digit sales growth. In the Americas, we experienced a 14% increase in sales of WD-40 Multi-Use Product and WD-40 Specialist sales due to the isolation and renovation phenomenon and increased sales through the e-commerce channel during the pandemic. The U.S. and Latin America also saw triple-digit growth. Bicycling has experienced a boom amid the pandemic, with increased ridership and the associated maintenance of bicycles throughout the region. We saw increased sales in Latin America during the first quarter. Many of our Harvest Brands in the U.S. and Canada, due to increased demand as a result of the pandemic. However, we continue to consider our home care and cleaning products, except for those listed as strategic brands, as Harvest Brands that continue to generate meaningful contributions and cash flows but are generally expected to become a smaller part of the business over time. In total, our Americas segment made up 44% of our global business in the first quarter. Over the long term, we anticipate sales within this segment will grow between 2%-5% annually. Now on to EMEA. Net sales in EMEA, which includes Europe, the Middle East, Africa, and India, were up 40% in the first quarter to $54.7 million. Changes in foreign currency exchange rates had a favorable impact on sales for the EMEA segment from period to period. On a constant currency basis, sales would have increased by 33% compared to last year. Sales of maintenance products increased by 42% in EMEA due to increased sales in both our EMEA direct and our EMEA distributor markets, which increased 47% and 34% respectively. In our EMEA direct markets, we experienced a 42% increase in sales of WD-40 Multi-Use Product and a 61% increase in sales of WD-40 Specialist due to the isolation and renovation phenomenon and increased sales through the e-commerce channel during the pandemic. Our EMEA direct markets also saw a 265% increase in our WD-40 Bike product line. In the first quarter, net sales in our EMEA direct markets accounted for 65% of the region's sales. In our EMEA distributor markets, we experienced a 34% increase in sales of WD-40 Multi-Use Product and a 42% increase in WD-40 Specialist sales, primarily due to improved economic conditions as a result of reductions in COVID-19-related movement restrictions. We saw particularly strong sales of WD-40 Multi-Use Product in Northern, Eastern Europe, and India, which were up 62%, 24%, and 120% respectively, areas where we're experiencing strong recoveries. In addition, the isolation and renovation phenomenon led to increased demand and consumption of our products in some of our EMEA distributor markets. In the first quarter, net sales in our EMEA distributor markets accounted for 35% of the region's sales. In total, our EMEA segment made up 44% of our global business in the first quarter. It's interesting to note that sales in EMEA and the Americas both represented about 44% of our total global business this quarter. This demonstrates a significant future growth opportunity available to us in EMEA. Over the long term, we anticipate sales within this segment will grow between 8%-11% annually. Now on to Asia Pacific. Net sales in Asia Pacific, which includes Australia, China, and other countries in the Asia region, were up 24% in the first quarter to $15.6 million. Changes in foreign currency exchange rates had a favorable impact on sales of the Asia Pacific segment from period to period. On a constant currency basis, sales would have increased by 21% compared to last year. Sales of maintenance products increased by 22% in Asia Pacific due to increased sales in China, Australia, and our Asia distributor markets, which all experienced double-digit sales growth. In Australia, net sales were $5.2 million in the first quarter, up 28% compared to last year, driven by increased demand for both our Harvest Brands and maintenance products. Sales of our Harvest Brands products were up 44% as a result of the COVID-19 pandemic. Sales of WD-40 Multi-Use Product and WD-40 Specialist were also up 20% and 25% respectively, due to the isolation and renovation phenomenon. China net sales were $3.6 million in the first quarter, up 53% compared to last year, driven primarily by the timing of customer orders and increased sales through the e-commerce channel. Sales in China during the first quarter of fiscal year 2020 were negatively impacted by the 70th anniversary National Day in China, which resulted in slowed market conditions and lower sales, with no comparable event occurring this year. We remain optimistic about the long-term opportunities in China. We expect volatility along the way due to economic and health-related impacts of COVID-19, the timing of promotional programs, the building of distribution, shift in economic patterns, and varying industrial activities. In our Asia distributor markets, net sales are $6.9 million in the first quarter, up 11% compared to last year, primarily attributable to the timing of customer orders in the region. COVID-19 lockdown measures were reduced considerably in many of the Asian markets during the first quarter of fiscal year 2021. These reduced lockdown measures have positively impacted economic conditions in the region, which resulted in our marketing distributors normalizing their inventory levels. Although the health concerns associated with the pandemic lessened and the resulting movement restrictions were lifted in many Asian countries, some larger countries in the region continue to observe movement restrictions. In total, our Asia Pacific segment made up 12% of our global business in the first quarter. Over the long term, we anticipate sales within this segment will grow between 10%-13% annually. Now let's dig into our Must Win Battles. As Garry mentioned earlier, our Must Win Battles are the tactics or specific steps we are undertaking to deliver against our anticipated revenue targets. We have four global Must Win Battles. Must Win Battle number one is geographic expansion. Our largest growth opportunity and first Must Win Battle is the geographic expansion of the blue and yellow can with the little red top. We estimate the potential global growth opportunity for WD-40 Multi-Use Product to be approximately $1 billion. We are laser-focused on delivering long-term growth in our top 20 growth markets around the world. China remains our largest growth opportunity, which is why we elected to open a direct operation there in 2006. In addition, China is the world's largest e-commerce market, and our digital strategy in the country is a significant area of opportunity. India also represents a substantial long-term growth opportunity for us. Three years ago, we initiated our step-up program in partnership with our India MD, and this has already delivered impressive results. In Latin America, we transitioned Mexico from a distributor market to a direct operation in May of 2020, and we are set for very strong growth in Mexico over the coming years. Our second Must Win Battle is premiumization of WD-40 Multi-Use Product. Our Smart Straw delivery system has been our most successful innovation and is loved by end users across the world. Premiumization creates opportunities for revenue growth as well as for gross margin expansion. As we continue to roll out Smart Straw next generation, which will increase capacity and reduce costs, our objective is to grow Smart Straw penetration to greater than 60%. Our third Must Win Battle is to grow WD-40 Specialist. Garry mentioned earlier we debuted our refreshed brand architecture for WD-40 Specialist in fiscal year 2020. Now, for the first time ever, WD-40 Specialist is fully leveraging our most iconic asset, the blue and yellow can with the little red top. WD-40 Specialist range of products aims to provide maintenance professional and DIYers alike over 20 unique formulas to complement our iconic Multi-Use Product. This makes the WD-40 brand even more relevant to more people in more places who will use more of it. We believe this refreshed packaging will accelerate awareness and improve findability in store and online. Our final Must Win Battle is digital commerce. We set our global digital ambition two and a half years ago. Our ambition is to engage with end users at scale and become the global category leader in our category within the digital commerce platform. Since 2020 was the year that a global health crisis would transform the way people shop, our heightened focus on digital and e-commerce has never been so important. With e-commerce set to deliver over half of global retail growth by 2025, and digital interactions playing an increasingly important role in purchase journeys, we believe we're well positioned to benefit from the significant shift to online behaviors in the years ahead. We certainly see digital and e-commerce as a strong accelerator of our future growth. In closing, I want to share a few thoughts with you about the future. Over the long term, we are optimistic that many of the new end users who have interacted with our products during the pandemic will become permanent users of our maintenance and home care solutions. The short term to mid-term is much more difficult to see clearly. Due to the uncertainty that the pandemic continues to present, it's very difficult for us to estimate how the pandemic might continue to impact our business. Many regions continue to experience increased COVID-19 case counts, resulting in temporary closures and lockdowns, which could negatively impact our sales in the short term. In addition, if there is a shift in spending patterns or a global economic downturn in the wake of the pandemic, it could adversely impact our financial results. Finally, keeping up with demand in a COVID environment is a challenge. We're actively monitoring supply chain and transportation capacity constraints, which have arisen as a result of the pandemic. We are managing through these issues, but there are market constraints impacting all consumer packaged goods companies that are not allowing us to meet some of our normal levels of service with our customers. Despite these uncertainties and risks. We remain cautiously optimistic about fiscal year 2021, and believe current market conditions suggest that for the full fiscal year, total net sales are likely to be in a range of between $435 million-$470 million. Now I'll turn the call over to Jay, who will provide you a financial update on the business. Thanks, Steve. Let's start with a discussion about our 55/30/25 business model, the long-term targets we use to guide our business. As you may recall, the 55 represents gross margin, which we target to be at 55% of net sales. The 30 represents our cost of doing business, which is our total operating expenses, excluding depreciation and amortization. Our goal is to drive our cost of doing business over time toward 30% of net sales. Finally, the 25 represents our long-term target for EBITDA. First, we'll look at the 55, or our gross margin. In the first quarter, our gross margin was 56.4% compared to 54.3% last year. This represents an improvement of 210 basis points year-over-year. Changes in major input costs, which include petroleum-based specialty chemicals and aerosol cans, positively impacted our gross margin by 340 basis points. Petroleum-based specialty chemicals had a positive impact on gross margin of 260 basis points, and the remaining 80 basis points came from lower costs associated with the aerosol cans. Beginning in late February 2020, crude oil reached multi-year lows and has consistently remained lower year-over-year since that time. Therefore, the average cost of crude oil which flowed through our cost of goods sold in the first quarter was significantly lower than in the prior year, benefiting our gross margin. In addition, we achieved favorability in cost of aerosol cans due to higher than anticipated purchase volumes, especially in our EMEA segment. Also impacting on a positive way our gross margin were sales price increases, primarily in EMEA and Asia Pacific, which impacted gross margin by 40 basis points in the first quarter. These positive impacts to gross margin were partially offset by the negative impacts of higher warehousing and inbound freight costs in both the Americas and EMEA, which negatively impacted gross margin by 120 basis points. The unfavorable impacts were primarily due to increased freight and warehousing expense due to the high demand, labor shortages, and distribution networks related to the pandemic. Finally, miscellaneous costs, unfavorable sales mix changes, and other changes in foreign currency exchange rates, when combined, negatively impacted our gross margin by 50 basis points. Though we cannot control market dynamics like foreign currency exchange rates or commodity-based input costs, we continue to be focused and deliberate in managing the rest of our business so that we can maintain gross margin at or above our target of 55% over the long term. Now I'll address the 30, or our cost of doing business. In the first quarter, our cost of doing business was approximately 32% of net sales, compared to 38% last year. Although SG&A expense increased by $3.4 million compared to the first quarter last year, our cost of doing business as a percentage of sales decreased year-over-year due to the significant increase in revenue in the first quarter. The increase in SG&A expense in the first quarter was primarily due to the higher employee-related costs. For the first quarter, 80% of our cost of doing business came from three areas, people costs, the investments we make in our Tribe, the investments we make in marketing, advertising, and promotion. As a percentage of sales, our A&P investment was 4.4% in the first quarter. As a percentage of sales, A&P investment declined in the first quarter due to the significant increase in revenue. However, our A&P investment was relatively flat in dollars compared to the prior year. Finally, the freight costs to get our products to our customers. This leads us to EBITDA, the last of our 55/30/25 measures. EBITDA was 24% of net sales for the first quarter, up from the 17% last year. I've shared with you many times that revenue growth is the most important factor in achieving our goal of the 55/30/25 measures, that being EBITDA of 25%, and this quarter clearly demonstrates just how impactful revenue is within our business model. That will complete the discussion of the business model, and then now we'll turn to the other items that fall below the EBITDA line. The provision for income taxes was 15.7% in the first quarter, compared to 14.7% last year. We expect that our effective tax rate will be approximately 20%- 21% for the full fiscal year 2021, which compares to an effective tax rate of 19.6% in fiscal year 2020. Due to the strong revenue growth and improved gross margin, we reported net income for the first quarter was $23.6 million, compared to the $12.2 million last year. Diluted earnings per common share for the first quarter were $1.72, compared to the $0.88 for the same period last year. A word about our balance sheet and our capital allocation strategy. The company's financial condition and liquidity remain strong. When the pandemic began, we took numerous steps to further strengthen our balance sheet. In order to preserve cash while we monitored the impacts of the pandemic, we elected to suspend the stock repurchases we were making under our previously approved stock buyback plan, which expired at the end of August 2020. We do not expect to seek board approval for a new share buyback plan until we start to see a reduced level of uncertainty regarding the pandemic. As a result, no repurchases were made during the first quarter of the fiscal year 2021. We will continue to remain vigilant in managing our cash and liquidity during these unprecedented times. However, we continue to return capital to shareholders through regular dividends. On December 7th, our board of directors approved our regular quarterly cash dividend of $0.67 per share, payable January 29th to shareholders of record on the close of business on January 15th. Our capital allocation strategy includes a comprehensive approach to balance investing in long-term growth while providing strong returns to our shareholders. In fiscal year 2021, we will invest approximately $20 million in capital projects, the majority of which will be used to complete the procurement of the proprietary machinery and equipment that we're using to manufacture our next generation Smart Straw delivery system. We have historically had an an asset-light business model, which has required very low levels of capital investment, roughly between 1% and 2% of sales. We believe that beginning in fiscal 2022, we'll begin to see CapEx return to these levels. The pandemic continues to inject a measure of uncertainty into our business, which makes it very difficult for us to accurately forecast short-term financial results for the company. As a result, we will not be issuing comprehensive financial guidance for fiscal year 2021 at this time. Well, that will complete our discussion of the financial overview. Now, I'll turn it back to Garry. Thank you, Jay. In summary, what did you hear from us on this call? You heard that sales of WD-40 Multi-Use Product were up 24% in the first quarter. You heard that sales of WD-40 Specialist were up 37% in the first quarter. You heard that sales of WD-40 Bike were up nearly 260% in the first quarter due to strong demand around the world. You heard that sales of home care and cleaning products were up 15% in the first quarter, driven by strong demand for cleaning products due to the pandemic. You heard that global e-commerce sales grew by over 90% in the first quarter, with strong sales growth across all three trading blocks. You heard that we continue to return capital to investors through regular dividends. You heard that due to the uncertainties and risks the pandemic continues to present, it is very difficult for us to estimate how the pandemic might continue to impact our business over the short to mid-term. You heard that despite these uncertainties, we remain cautiously optimistic about fiscal year 2021 and believe our current market conditions suggest that for the full fiscal year, total net sales are likely to be in a range of $435 million-$470 million. You heard that while we are not issuing comprehensive guidance, we remain confident that our revenue growth aspirations remain a realistic future opportunity. In closing today, I'd like to share with you a quote from my friend Simon Sinek. It is important to celebrate our victories, but we cannot linger on them, for the infinite gain is still going and there is still much work to be done. Thank you for joining us today. We would be pleased to take your questions. Ladies and gentlemen, if you would like to register a question, please press star one on your telephone keypad. Please make sure your mute function is turned off to allow your signal to reach our equipment. If your questions have been answered and you would like to withdraw your registration, please press the pound key. Your first question comes from the line of Linda Bolton-Weiser from D.A. Davidson. Hello. Happy New Year. Congratulations on a great quarter. Thank you, Linda. I guess, first of all, thank you for giving the guidance for revenue for the fiscal year, and I'm just curious what holds you back from giving earnings guidance. Is it the movements in your petroleum-based input costs, because there has been a recent rise in oil, or is it more the supply chain constraints? What element of the earnings profile is it that you're a little uncertain about? I mean, most of it is aligned with the revenue. We believe our gross margin will be within our range, historic range for the year. Also, the uncertainty around the extra or the implied costs that may come in because of certain changes in distribution due to the pandemic, are things that we can't rely on. We think we've got a good idea of the revenue, but we are not comfortable issuing a comprehensive down to EPS guidance at this time. I'm sure you understand that. We're not on our own here. Okay. Can you talk about your A&P spending? You noted that the high revenue growth kind of made the ratio lower, but I'm also wondering how much you're spending behind your brands, given that maybe in some cases, you're chasing demand a little bit. Is that an environment where you would actually want to pull back a little bit on brand spending because you're kind of chasing demand and don't need to spend as much? Could you comment on that? No, not at all. We've continued to invest in our marketing activities. The one area that we've not pulled back on, but have been forced to reduce is areas of our marketing toolbox that require physical impact. For example, our sampling programs, which are highly people intensive. We're continuing to use this opportunity to further strengthen our brands. As you know, in some markets, we've got a lot of awareness opportunities. No, we have no intention of pulling back on our fundamental brand-building marketing activities. Also, can you give us some of your thoughts on, I know this is a long time from now, but a year from now, when you're facing these strong comparisons due to the pandemic, what are your thoughts on being able to grow your revenue against such strong comparisons a year from now? Our long-term aspiration hasn't changed. As Steve has shared and I've shared over many years, we believe that there's still a long growth path for us in many countries around the world. As Steve mentioned in his comments, we'll see how many of the new users that have come into our brand that we've identified actually stick. Historically, we would believe that will be a very high number. I wish I had a crystal ball to give you that answer. The game isn't over. We're playing the infinite game and in other areas too, Linda, like Specialist. Our business and Specialist, particularly in e-commerce, is very exciting. These are all new users we're bringing in, with new products in Specialist, new delivery systems. We're hopeful that that will help us continue some momentum. We'll see. A lot depends on how soon we're set free as a human race again. We believe that during the pandemic, we've actually strengthened our position with our end user base and we've strengthened our brand position globally. Okay. Thank you. That's it for me. Thanks, Linda. All the best. Stay safe and well. Thank you. Your next question comes from the line of Daniel Rizzo from Jefferies. Go ahead. Good afternoon, everyone. How's everyone doing? Hey, Daniel, good to hear you. Good to hear you. Good to talk. I was just looking at Europe was much, much stronger than I think anybody anticipated. While I realize that a lot of that was from the remodeling trends you mentioned, I was just wondering, was there something particular in that particular region that led to that strong growth? Also, the margins seem much better than I think have historically been, and I was wondering what was driving that as well. I'll ask Steve to comment on the revenue side. He's very close to the European business. Thank you, Garry, and hi, Daniel. Yeah, it's really for Europe, there was some rebound in terms of the marketing distributors. These are really kind of global trends that we've seen. Our marketing distributors are rebounding strongly from lockdowns and limited activity during the pandemic. That's the first thing. The rest of it's really the same drivers, our Must Win Battles that have just been translated to Europe. Great growth on our Smart Straw premiumization strategy across Europe. WD-40 Specialist growing very nicely. Some of our markets rebounding strongly, India, Russia, some of the challenge markets we had in 2020 have rebounded very strongly. The WD-40 Bike has done very well across the world, but very strong growth across Europe as well. Really the same kind of drivers that have driven our global results in terms of those Must Win Battles and great execution from our EMEA team. The margins? You're calling on gross margin or just? I was looking at the EBIT margins, actually, which were, I think, upwards of 32%. It's really drive to revenue. We've often said that, as Jay mentioned, that we've got a business model that we built for the future. As we start to build revenue, we get the benefit of the leverage of the revenue. If you think about our future goal of 55%, 30%, 25%, we're actually at 56%, 32%, 24%, which does prove that the model that we've built for the future is a model that's realistic. That was something that experiencing that in the quarter was something that we were very pleased to see. Okay. I know that there was some tailwind from lower oil prices or lower petroleum costs. Well, the costs were lower or the pricing was lower earlier in the year. Now you're kind of feeling it. I was wondering if that's kind of peaked and should probably ease over the next two or three quarters. Jay can speak to that. Yeah, we've seen as oil has crept up recently, we've seen or we will see 90-120 days and beyond a little bit higher or a little more headwind to margin from where it is today. Okay. All right. That's helpful. I guess finally, just in terms of timing, in the past, historically, has the Chinese New Year ever had an effect on sales, or should we expect a seasonal slowdown here in the first quarter, at least in Asia? Well, it depends when it falls. Last year, obviously, it fell right in the beginning of the COVID time. We see that theme. We always get an upswing after Chinese New Year. We believe that it would be no different to previous years. As you know, Chinese New Year does fall at different times during the year, during that first part of the year. Okay. Finally, I think I saw in the deck, and you mentioned that the cost of doing business went down previously in the quarter. I was wondering if that's just executing better or if there's something that you're doing differently to reduce those costs. It's revenue. Just revenue. As a percentage. Cost of business as a percentage went down. In real dollars, our cost of business went up. As a percentage of revenue, it went down, and it was because of the higher revenue. All right. Thank you very much. Okay. Thanks, Daniel. Ladies and gentlemen, that does conclude our allotted time for questions. We thank you for your participation on today's conference call and ask that you please disconnect your lines.