Bel Fuse Inc. (NASDAQ:BELFB) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET

Company Participants

Steven Hooser - Three Part Advisors

Dan Bernstein - President and Chief Executive Officer

Farouq Tuweiq - Chief Financial Officer

Lynn Hutkin - Director, Financial Reporting

Conference Call Participants

Theodore O'Neill - Litchfield Hills Research

Jim Ricchiuti - Needham & Co

Hendi Susanto - Gabelli Funds

Robert Brooks - Brick by Brick Capital

Operator

Good morning, ladies and gentlemen, and welcome to the Bel Fuse Third Quarter 2022 Earnings Call. All Participants will be in listen-only mode. [Operator Instructions] As a reminder, this call is being recorded.

I'd now like to turn the conference over to Steven Hooser with the Three Part Advisors. Please proceed sir.

Steven Hooser

Thank you, Claudia, and good morning, everyone. Thank you for joining our third quarter 2022 earnings call. Before we begin, I'd like to remind everyone that this conference call contains certain forward-looking statements regarding the company's expected operating and financial performance for future periods. These statements are based on the Company's current expectations. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks and other factors.

Additional information about factors that could potentially impact our financial results is included in yesterday's press release and as discussed on our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our subsequent quarterly reports and other filings with the SEC from time to time.

We may also discuss non-GAAP results during this call and reconciliation of our GAAP results to non-GAAP results that have been included in our press release. Our press release and our SEC filings are available on the IR section of our website.

Now joining me on the call today is Dan Bernstein, President and CEO; Farouq Tuweiq, Chief Financial Officer; and Lynn Hutkin, Director of Financial Reporting.

With that, I'll now turn the call over to Dan. Dan?

Dan Bernstein

Thank you, Steve, and thank you all for joining us on the call today. I am once again pleased to report a new record-breaking quarter for Bel. Revenue, adjusted EBITDA and backlog were all the highest in our seven year history. From an adjusted EBITDA margin perspective, you would need to look back to the mid-2000 to see this level.

These strong results were led by the collective efforts of our global team, as we work together in growing and enhancing the quality of our top line, increase profit margins and simplify the way we do business. Across all three of our product groups, we continue to achieve certain target margins that are specific to each SKU, including addressing negative or low margins.