Standex International Corporation (NYSE:SXI) Q3 2023 Results Conference Call May 5, 2023 8:30 AM ET

Company Participants

Chris Howe - Director of IR

David Dunbar - Chairman, President and CEO

Ademir Sarcevic - VP, CFO and Treasurer

Conference Call Participants

Chris Moore - CJS Securities

Michael Legg - Benchmark

Gary Prestopino - Barrington Research

Operator

Good day, and welcome to the Standex International Fiscal Third Quarter Results Call. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Chris Howe, Director of Investor Relations. Please go ahead.

Chris Howe

Thank you, operator, and good morning.

Please note that the presentation accompanying management's remarks can be found on the Investor Relations portion of the company's website at www.standex.com. Please refer to Standex's Safe Harbor statement on Slide 2.

Matters that Standex management will discuss on today's conference call include predictions, estimates, expectations and other forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially. You should refer to Standex's most recent annual report on Form 10-K as well as other SEC filings and public announcements for a detailed list of risk factors.

In addition, I'd like to remind you that today's discussion will include references to the non-GAAP measures of EBIT, which is earnings before interest and taxes; adjusted EBIT, which is EBIT, excluding restructuring, purchase accounting, acquisition-related expenses and onetime items; EBITDA, which is earnings before interest, taxes, depreciation and amortization; adjusted EBITDA, which is EBITDA excluding restructuring, purchase accounting, acquisition-related expenses and onetime items; EBITDA margin; and adjusted EBITDA margin. We will also refer to other non-GAAP measures, including adjusted net income, adjusted operating income, adjusted net income from continuing operations, adjusted earnings per share, adjusted operating margin, free operating cash flow and pro forma net debt to EBITDA. These non-GAAP financial measures are intended to serve as a complement to results provided in accordance with accounting principles generally accepted in the United States. Standex believes that such information provides an additional measurement and consistent historical comparison of the company's financial performance.

On the call today is Standex's Chairman, President and Chief Executive Officer, David Dunbar; and Chief Financial Officer and Treasurer, Ademir Sarcevic.

David Dunbar

Thank you, Chris. Good morning, and welcome to our fiscal third quarter 2023 conference call. We are very pleased with the results.

We continued our trend of record operating margin. Sales into fast-growth markets continue to accelerate. New product developments and new application pursuits continue to expand across our businesses. I want to thank our employees, our executives and the Board of Directors for their continued dedication and support.