Good day, and welcome to the Standex International Fiscal Third Quarter Results Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. 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. 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 two. 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 one-time items. EBITDA, which is earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA, which is EBITDA excluding restructuring, purchase accounting, acquisition-related expenses, and one-time 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. Thank you, Chris. 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. Now, if everyone can turn to slide three, key messages. We reported 1.5% organic revenue growth year-on-year as three of our five business segments exhibited organic revenue growth. Our long-term growth profile continues to improve as sales into fast-growth end markets grew 40% from prior year to $23 million in the quarter. We anticipate this revenue stream to grow by approximately 50% in fiscal year 2023 to approximately $85 million. Overall, we anticipate organic revenue growth in fiscal year 2023 from four of our five business segments. Profitability continues at record levels. The continued effectiveness of our price and productivity actions maintained our record margin set last quarter, representing our eighth consecutive quarter of record level adjusted operating margin. Consolidated adjusted operating margin of 15.2% in fiscal third quarter 2023 was a 140 basis points increase year-on-year. Three of Standex's five business segments expanded margin year-on-year. Four of our five segments reported operating margin near 15% or greater, with our Specialty Solutions segment delivering 22.2% margin. We are pleased to see continued improvement in our ROIC, which is now at 12% on an annualized basis through Q3 FY 2023. With free cash flow of $17.6 million and the divestiture of Procon in the quarter, our net debt to EBITDA ratio is now at zero. This leaves us approximately $344 million of available liquidity to invest in our healthy funnel of organic growth and acquisition opportunities. Ademir will focus our financial performance, liquidity position, and capital allocation in greater detail later in the call. In fiscal fourth quarter 2023 on a sequential basis, we expect similar revenue with organic sales growth offsetting the impact of the Procon divestiture. We expect similar to slightly higher adjusted operating margin compared to fiscal third quarter 2023. On a year-on-year basis, we expect mid-to-high single-digit organic growth offset by the Procon divestiture and significant adjusted operating margin improvement driven by continued realization of pricing and productivity initiatives. We reaffirm our long-term financial outlook by fiscal year 2028. These targets include high single-digit organic growth to greater than $1 billion in sales. Adjusted operating margin greater than 19%. Return on invested capital of greater than 15%, and free cash flow conversion at approximately 100% of GAAP net income. Let's turn to slide four. Fast growth end markets. Here we highlight our fast growth end markets and how they are driving growth across Standex. In the renewable energy end market, our isolation relays, which are able to withstand high- voltages, play a critical role in solar inverters to enable safe and efficient switching. Moving to electric vehicle applications. The physical properties of our reed relays are designed to withstand high- voltage batteries in safety circuits. Here we anticipate to benefit from increased content on electric vehicles versus traditional combustion- engine vehicles. In soft trim, our highly efficient Soft Trim Tooling improves manufacturing productivity and reduces maintenance costs. For the commercialization of space, we are a leading solution supplier of fuel tank domes for launch vehicles. Our differentiated spin forming capability has allowed us to enter new and exciting development projects like the next generation prototype zero- emission aircraft. Shifting to defense. New defense power management needs are driving demand for our custom magnetic solutions, such as critical hardware for new hypersonic interceptor and tactical missile programs. I will now turn the call over to Ademir to discuss our financial performance in greater detail. Thank you, David. Good morning, everyone. Let's turn to slide five. Third quarter 2023 summary. On a consolidated basis, total revenue decreased 2.6% year-on-year to $184.3 million. This reflected organic revenue growth of 1.5%, offset by a 1.6% impact from the Procon divestiture and a 2.5% impact from foreign exchange. Third quarter 2023 adjusted operating margin increased 140 basis points year-on-year to 15.2%, matching our highest adjusted operating margin in company history from the prior quarter. Our adjusted operating income grew approximately 7% on a 2.6% consolidated revenue decrease year-on-year. Adjusted earnings per share $1.65 in the third quarter of fiscal 2023, compared to $1.54 a year ago. Approximately 7% growth year-on-year. Net cash provided by operating activities was $23.3 million in the third quarter of 2023, compared to $11.9 million a year ago. Capital expenditures were $5.6 million compared to $3.4 million a year ago. As a result, free cash flow was $17.6 million in fiscal third quarter 2023, compared to free cash flow of approximately $8.5 million a year ago. Our balance sheet continues to provide substantial flexibility to support an active pipeline of organic and inorganic opportunities, as well as increased investment in R&D and growth capital. Please turn to slide six, and I will begin to discuss our segment performance and outlook, beginning with Electronics. Segment revenue of $78.2 million decreased 2.1% year-on-year, as an organic increase of 1.3% was more than offset by a 3.4% negative impact from foreign exchange. Although softness in appliances and distribution end markets remains, power management, renewable energy, and EV-related markets remain robust. From a regional standpoint, North America market demand was strong, while China and Europe demand has been slower to recover. Adjusted operating margin of 21.8% in fiscal third quarter 2023 decreased 230 basis points versus the year ago period, primarily due to lower sales and unfavorable product mix, offsetting price and productivity initiatives. Sequentially, we expect similar revenue and operating margin in our fiscal fourth quarter as increased sales in the fast-growth markets are offset by a slow recovery in China and Europe. On a year-on-year basis, we expect double-digit organic growth in the segment, mostly due to improved market conditions in China and Europe versus a year ago. Please turn to slide seven for a discussion of the Engraving and Scientific segments. Engraving revenue decreased 0.8% to $36.9 million, as organic growth of 3.9% was more than offset by a 4.7% headwind from foreign exchange. Operating margin of 14.5% in fiscal third quarter 2023 decreased 90 basis points year-on-year due to unfavorable regional mix. The segment continues to see positive trends in Soft Trim Tooling, laser engraving, and tool finishing. In our next fiscal quarter, on a sequential basis, we expect similar to slightly higher revenue and operating margin. Scientific revenue remained relatively flat at $18.9 million, primarily driven by higher sales into research and academic end markets, offset by lower demand for COVID-19 vaccine storage. Operating margin of 24.1% increased 220 basis points year-on-year due to price and productivity initiatives and lower freight costs. On a sequential basis in fiscal fourth quarter of 2023, we expect similar revenue and slightly higher operating margin. We expect that the year-on-year comparison will become more favorable in upcoming quarters as we are now fully behind our COVID-related demand surge for our vaccine storage units. Turn to slide eight for a discussion of the Engineering Technologies and Specialty Solutions segments. Engineering Technologies revenue of $18.1 million decreased 13.6% year-on-year, reflecting lower volume due to project timing, partially offset by higher revenue from new product development. Operating margin of 13% increased 190 basis points year-on-year as price and productivity initiatives offset lower volume. In fiscal fourth quarter 2023, on a sequential basis, we expect a moderate increase in revenue and operating margin due to more favorable project timing in aviation and space end markets. Specialty Solutions revenue of $32.3 million remained flat year-on-year, reflecting strong organic growth in the Display Merchandising business, offset by an organic decline in the Hydraulics business and the Procon divestiture. Operating margin increased significantly to 22.1% from 11.2% a year ago, driven by higher sales in the Display Merchandising business and realization of productivity initiatives in the Hydraulics business. In the fiscal fourth quarter 2023, on a sequential basis, we expect revenue to decrease moderately to significantly, primarily due to the Procon divestiture and lower sales in the Display Merchandising business. Operating margin is expected to be slightly lower. Next, please turn to slide nine for a summary of Standex's liquidity statistics and the capitalization structure, which remains strong. Standex ended fiscal third quarter 2023 with $344 million of available liquidity, an increase of approximately $44 million from the prior year. At the end of the third quarter, Standex had net cash of $2 million, compared to net debt of $70 million at the end of fiscal 2022, and net debt of $65.8 million at the end of fiscal third quarter 2022. Standex's long-term debt at the end of fiscal third quarter 2023 was $173.3 million. Cash and cash equivalents totaled $175.3 million. With regards to capital allocation, we repurchased approximately 42,500 shares for $5 million in the third quarter, and $72.1 million is remaining under the current repurchase authorization. We also declared our 235th quarterly cash dividend of $0.28 per share and approximately 7.7% increase year-on-year. In fiscal 2023, we now expect capital expenditures to be between $25 million and $30 million, compared to approximately $24 million in fiscal 2022. I will now turn the call over to David to discuss our key takeaways from our third quarter results. Thank you, Ademir. Please turn to slide 10. Standex is well positioned to deliver solid organic growth as an operating company, driven by increased activity and demand within our fast growth end markets. We are excited about seeing these opportunities materialize and expand. Our regional presence, strong customer relationships, and disciplined approach to pricing and productivity provide protection from supply chain challenges and inflation. As a result, we've continued to deliver sustainable, profitable growth through this environment. Our strong balance sheet positions us well to be opportunistic on an active pipeline of internal investments and an active funnel of inorganic candidates. We'll now open the line for questions. We will now begin the question-and-answer session. To ask a question, you may press star then one on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we'll pause momentarily to assemble our roster. Our first question comes from Chris Moore from CJS Securities. Please go ahead. Hey, good morning, guys. Thanks for taking a couple questions. Good morning. Good morning. Maybe start Electronics. Revenue will be, you know, looks like basically flat year-on-year, backlogs down slightly. Maybe can you just talk about the visibility beyond Q4 on the Electronics segment? Well, I guess, we serve a lot of end markets, we go through different channels, and we have different visibility for different channels. We feel very, very good about the continued growth in the fast- growth markets. Things like distribution channels, we have a little less visibility to. Those are gonna be a function more of the general economy. We tend to look at this through the cycle, feel very strongly about this business. We have a strong competitive position and good end markets and good growth prospects. If you look at, if you're looking shorter term, I'll turn it over to Ademir. Yeah, Chris, I think, you know, from a regional standpoint, the North America demand has been holding up and, you know, Europe and China is slowly recovering. You know, the white goods or the appliance end market is still a bit soft. You know, we feel as David said, we feel very strongly and very good about our fast growth end markets exposure. You know, we feel that can more than offset the softness we are seeing in our appliances and more of the general economic terms. You know, we are optimistic. Got it. Helpful. I'll leave it there. On the fast growth side, you know, markets like smart grid, defense, electric vehicles, your positioning is a function of both, you know, your SST and magnetic products. That said, is either of those a more significant, you know, revenue growth driver, you know, longer term? You mean SST or Magnetics? Yes. Is this- Correct. I guess. They each are contributing equally into these fast- growth markets. Magnetics has got a great position in defense, for example. I think there's the tailwinds behind renewable energy and electric vehicles in particular, we anticipate will drive sales faster in SST, so we'll probably see faster growth rates there in the fast growth market group. Yeah. If I can just add, Chris, and if you take electric vehicles, for example, that's where our SST business has a very good, you know, position. As those vehicles replace combustion vehicles, that's where we, you know, keep seeing about three to five times more content per vehicle than in a current combustion scenario. You know, SST clearly is in a good position to capitalize on these market trends. Got it. That's helpful. Maybe the last one just maybe we can talk a little bit more about M&A. Strategic M&A has obviously been a big part of your guys' history. You certainly have the balance sheet, net debt is at zero. How would you characterize the M&A efforts currently? Is it, you know, versus, say, a year ago? Just, you know, kinda how are you looking at it long term? Is just. Yeah ... some add-ons or is there anything significant out there? Always important for us. We play in two very different M&A markets. We do a lot of our acquisitions historically, they're for family-owned or privately owned businesses. Those owners sell for their own reasons at their own times and those deals don't necessarily follow the trends in the broader M&A market. We have an active pipeline of such companies now. Some of them, you know, could be actionable in the near term. We feel that we are well positioned as a, let's say preferred owner for some attractive companies. We build these relationships over a long period of time. When the time comes, when they're ready to transition, you know, we're there. On the other hand, in the last year or so, because of our track record and confidence in, especially in bringing in, acquisitions into the Electronics business, we have been working to bring larger businesses into our funnel. More of these are in the broader M&A market. Although there's activity there in building our funnel, there is less actionable, fewer actionable opportunities in the near term, just because of the broader M&A market has taken a bit of a pause. Got it. Very helpful. I'll leave it there. Thanks, guys. Thank you. Thanks, Chris. Our next question comes from Michael Legg from Benchmark. Please go ahead. Thanks. Good morning. Congratulations on a nice quarter, guys. Wanted to touch base. Thank you, Mike. You're welcome. Just wanted to touch base a little bit on the economic impact we're seeing today on what you're seeing in the supply chain, on hiring and wages, and then your ability to increase your pricing related to your supply chain costs. Can you just talk a little bit about that, please? Well, first of all, just the umbrella statement, we feel very, very good about our team's abilities to manage their price, to cover the cost of material inflation and inputs, both supply chain and materials. They proved it in spades throughout the last three years of the pandemic. It varies a bit business by business, how that plays out, but you can see we've, you know, we've expanded our margins through the pandemic. In terms of current conditions, supply chain issues have eased for our businesses in the last few years. You know, right now it's not impacting our deliveries or any of our current commitments. Yeah. That I got nothing to add. Yeah. Okay. On hiring and wages? Yeah, no. We are seeing more pressure on wages. I'd say I can't quantify this statement, but it is taking a little longer to fill positions, especially in Europe and North America. We are finding candidates. You know, we got a good story here. It's a good company. We're able to attract good candidates and bring them in. We are seeing some wage inflation and delays in hiring. Just one last question. On Enel, any update on that project? Yeah. Well, this is a great project. We are with our partner, Enel, the solar energy project, we have in the last, you know, in the last six months to a year, proven that the technologies we've developed together do deliver performance improvements for the solar panels. We are in a phase of industrialization. We're designing the manufacturing processes. We're also working with them on business model to determine what the right participation model is. I'd say the project has become a little. It's still in development, so the, it's a little hard to predict the timeline, so we're maybe taking longer than we thought we would a year ago. The project still has a lot of support from Enel. We're excited about it, and we'll continue to communicate as we make progress. We're in this kind of final phases of development is maybe the way to put it. Michael, if I can just add, you know, all of the numbers we put out there in terms of the longer term guidance do not include any contribution from this project. When and if this becomes a, you know, contributing factor to our performance, that will be on top of the numbers we communicated. Great. Thanks and congratulations again. Thank you. Thank you, Mike. If you have a question, please press star then one. Our next question comes from Gary Prestopino from Barrington Research. Please go ahead. All right. Hey, good morning, Dave and Ademir. Gary. A couple of questions here. In terms of eight consecutive quarterly records of adjusted operating margin, I think it was 140 basis points lift year-over-year. Yeah, I would assume the majority of that is due to what you're doing on the productivity side. You know, has pricing been a big issue there? I guess the other question I would then layer on top of that is, with the fast-growth markets sales, do those have a higher margin profile than the consolidated operating margin for the company? Yeah. Let me say a word. I'll turn it over to Ademir. It really is multiple things. You know, if you go back three years, our portfolio is much better. All the businesses are performing well. There are productivity programs reading through. They've all done well, realizing price, covering their inflation. The new products in the fast- growth markets are at higher margins than the corporate average, so we mix up in margin as that grows. Yeah. I mean, I think that's right. We have a pretty robust operating model, Gary, kind of across all of the units where we track pricing and productivity initiatives for each of the businesses. You know, we are fortunate to have people in our businesses who are very accountable and, you know the customers, know the markets, and run those business units very well. You know, we are proud of our achievement of eight consecutive quarters. You know, we'll see how it plays out in the future. Is it possible that you could quantify just how much higher the fast- growth markets margins are, or is that something you don't make public? We haven't made it public. That's hard to answer that. They're higher. Okay. Okay. The gross margin. You think, what was our gross margin slide for 38? Yeah, 38.5%. 38.5% gross margin on the fast- growth markets is above that by several hundred basis points. Correct. Okay. That's very helpful. Lastly, just to refresh my memory, what you're doing in the EV market, you're doing both standard passenger cars, off-road vehicles, correct? Are you also doing? Yes ... like, last- mile delivery trucks, you know, things that are not more of the standard EVs as we think about them? You know, most of our volume is in passenger vehicles. The last mile delivery vehicle volume is starting to pick up. The way to think of where we play, especially with the relays for the safety isolation circuits and the battery management systems, those have applications in vehicles that operate at higher voltages. Newer vehicles are operating at higher voltages to achieve more efficiency. All the off-road vehicles are higher voltages, and the last- mile vehicles as well. Okay. Thank you very much. Yeah. Thanks, Gary. This concludes our question and answer session. I would like to turn the conference back over to David Dunbar for any closing remarks. All right. Thank you. I wanna thank everybody for joining us for this call. We always enjoy reporting on our progress here at Standex. Finally, again, I wanna thank our employees, our board of directors and shareholders for your continued support and contributions. We look forward to speaking with you again in our fiscal fourth quarter 2023 call. Conference is now concluded. Thank you for attending today's presentation. You may now disconnect.