FGI Industries Ltd. (NASDAQ:FGI) Q4 2022 Earnings Conference Call March 28, 2023 8:00 AM ET

Company Participants

Paul Bartolai - Investor Relations

David Bruce - President & Chief Executive Officer

Perry Lin - Chief Financial Officer

Conference Call Participants

Reuben Garner - The Benchmark Company

Greg Gibas - Northland Securities

Operator

Good morning and welcome to the FGI Industries, Inc. Fourth Quarter 2022 Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Paul Bartolai. Please go ahead.

Paul Bartolai

Thank you. Welcome to FGI Industries fourth quarter and full year 2022 results conference call. Leading the call today are President and CEO, David Bruce; and Chief Financial Officer, Perry Lin. We issued a press release after the market closed yesterday detailing our recent operational and financial results.

I would like to remind you that management's commentary and responses to questions on today's conference call may include forward-looking statements which, by their nature, are uncertain and outside of the company's control. Although these forward-looking statements are based on management's current expectations and beliefs, actual results may differ materially. For a discussion of some of the factors that could cause actual results to differ, please refer to the Risk Factors section of our latest filings with the SEC. Additionally, please note that you can find reconciliations of historical non-GAAP financial measures in the press release issued yesterday and in the appendix of this presentation.

Today's call will begin with a performance review and strategic update from David Bruce, followed by a financial review from Perry Lin. At the conclusion of these prepared remarks, we will open the line for questions.

With that, I'll turn the call over to Dave.

David Bruce

Thanks, Paul. Good morning to everyone and thanks for joining our call today. 2022 was an exciting year for FGI. It was our first year as a public company and I am extremely proud of our strong execution throughout the year despite what turned out to be a very challenging operating environment.

We made important progress against our strategic priorities and performed extremely well operationally and as a result, we are well positioned to continue to execute on our value creation strategy in the coming years.

During the year, we continued to make critical progress at our BPC initiative which stands for brands, products and channels and is the key driver of our organic growth strategy. I will provide more specifics later in my comments but we further ramped key new products programs, expanded existing product categories and launched several brand initiatives during 2022 which should enable us to gain market share, expand our market penetration and drive strong organic growth in the coming quarters and years.