Bel Fuse Inc (NASDAQ:BELFA) Q1 2020 Earnings Conference Call - Final Transcript
May 01, 2020 • 11:00 am ET
Good day and welcome to the Bel Fuse Inc. First Quarter 2020 Results Conference Call. [Operator Instructions]
At this time, I would like to turn the conference over to Dan Bernstein, President and Chief Executive Officer. Please go ahead, sir.
Thank you, Sandy. Joining me on the call today is Craig Brosious, our Vice President of Finance; Lynn Hutkin, our Director of Financial Reporting.
Before we begin the call, I'd like to ask Lynn to go over the safe harbor statement. Lynn?
Thank you, Dan. Good morning, everybody. Before we start, I'd like to read the following safe harbor statement. Except for historical information contained on this call, the matters discussed on this call, such as statements regarding positive signs in Bel's underlying business, the placement of replenishment orders and the anticipated improvement in sales and financial results in the second quarter of 2020 as compared to the first quarter of 2020, are forward-looking statements as described under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Actual results could differ materially from those projections.
Among the factors that could cause actual results to differ materially from such statements are the market concerns facing our customers; the continuing viability of sectors that rely on our products; the impact of public health crises, such as the governmental, social and economic effects of COVID-19; the effects of business and economic conditions; difficulties associated with integrating recently acquired companies; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; risks associated with foreign currencies; uncertainties associated with legal proceedings; the market's acceptance of the Company's new products and competitive responses to those new products; the impact of changes to U.S. trade and tariff policies; and the risk factors detailed from time to time in the Company's SEC reports.
In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements. We may also discuss non-GAAP results during this call, and reconciliations of our GAAP results to non-GAAP results have been included in our release.
I would now like to turn the call back to Dan for a general business update.
I'd like to thank everybody for joining our call today, and I hope that you and your families are staying safe during this difficult period. Before we begin, I'd like to take a moment to acknowledge our manufacturing associates who are on the frontline today. I would like to extend our sincerest thank you to the associates in each of Bel's factories around the world, who continue to come to work each day with courage and dedication to our company and our customers.
Turning to our business update, the fourth -- first quarter was a challenging one as a result of COVID-19. As a supplier of electronic components to be used in defense, medical and networking applications, Bel's products are deemed