Vishay Precision Group, Inc. (NYSE:VPG) Q1 2022 Results Conference Call May 10, 2022 9:00 AM ET
Company Participants
Steve Cantor - IR
Ziv Shoshani - President and CEO
William M. Clancy - EVP and CFO
Conference Call Participants
John Franzreb - Sidoti & Company
Operator
Good morning. Thank you for attending today's VPG First Quarter 2022 Earnings Call. My name is Hannah, and I will be your moderator for today's call. [Operator Instructions]
I would now like to pass the conference over to our host, Steve Cantor, Senior Director of Investor Relations. Please go ahead.
Steve Cantor
Thank you, Hannah, and good morning, everyone. Welcome to VPG's 2022 First Quarter Earnings Conference Call. Our Q1 press release and accompanying slides have been posted on our website, and an audio recording of today's call will be available on the Internet for a limited time and can also be accessed on the VPG website.
Today's remarks are governed by the safe harbor provisions of the 1995 Private Securities Litigation Reform Act. Our actual results may vary from forward-looking statements. For a discussion of the risks associated with VPG's operations, we encourage you to refer to our SEC filings, especially the Form 10-K for the year ended December 31, 2021, and our other recent SEC filings.
On the call today are Ziv Shoshani, CEO and President; and Bill Clancy, CFO.
And now I'll turn the call to Ziv for some prepared remarks. Please refer to Slide 3 of the quarterly presentation. Ziv?
Ziv Shoshani
Thank you, Steve. I will begin with some commentary on VPG's consolidated financial results and sales trends for the first quarter. Bill will provide financial details and our outlook for the second quarter of 2022.
Moving to Slide 3. I am pleased to report that VPG achieved solid performance in the first quarter, which included record of orders and backlog as we navigated well to the supply chain and labor challenges impacting companies around the world. Before providing additional color on the Q1 results, I want to review the long-term strategy and priorities we laid out in February, which we believe will accelerate our long-term growth and profitability. As a leader in precision measurement sensing technologies, we are focusing on an expanding array of applications in which accuracy, reliability and repeatability makes the difference.
Our deep engineering and application expertise enable our customers to make their product safer, smarter and more productive. The need for precision measurement sensing solutions is evolving and expanding into new markets and applications requiring level of precision that were not needed before.