Bel Fuse Inc. designs, manufactures, and markets electronic components, systems, and solutions that power, protect, and connect electronic circuits. Its portfolio includes power systems, circuit protection, connectors and cable assemblies, magnetic components, and networking products used in aerospace, defense, industrial, data-driven, networking, transportation, e-Mobility, medical, and consumer electronics markets.
Recurring company news covers quarterly results and guidance, end-market demand, business-unit reporting, completed acquisitions such as dataMate, and regular cash dividends on Class A and Class B common shares. Updates also address Bel's segment structure, including Aerospace, Defense & Rugged Solutions and Industrial Technology & Data Solutions, as well as investor conference participation.
Bel Fuse Inc. (Nasdaq: BELFA, BELFB) announced that Daniel Bernstein will step down as President and CEO after 24 years, effective May 27, 2025, transitioning to Non-Executive Chairman. Farouq Tuweiq, current CFO, will succeed as President and CEO.
Under Bernstein's leadership since 2001, Bel completed 19 acquisitions, growing sales from under $100 million to over $600 million. The company has achieved record profitability and stock price valuation in its 76-year history during the past two years.
Tuweiq, who joined Bel in 2021 as CFO, has been important in transforming the company's corporate strategy and financial discipline, leading to record performance. The Board has initiated a search for a new CFO and approved expanding the Board to ten directors, with Tuweiq joining as a director effective May 27, 2025.
Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer, and provider of products that power, protect and connect electronic circuits, has announced its schedule for the release of fourth quarter 2024 preliminary financial results. The results will be released after market close on Tuesday, February 18, 2025.
The company has scheduled an earnings conference call for Wednesday, February 19, 2025, at 8:30 a.m. ET. Investors can participate via phone using the numbers 877.407.0784 (domestic) or 201.689.8560 (international). The call will also be available live over the internet at the company's investor relations website. A replay will be accessible after 12:30 p.m. ET for 30 days using the conference ID 13750153.
Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a leading global manufacturer of products that power, protect and connect electronic circuits, has announced its participation in the 27th Annual Needham Growth Conference on January 17, 2025. CFO Farouq Tuweiq and VP Financial Reporting & Investor Relations Lynn Hutkin will conduct meetings throughout the day, with a presentation scheduled for 10:15am ET. The investor presentation deck and webcast will be available through the company's investor relations section website.
Bel Fuse (Nasdaq: BELFA and BELFB), a leading global manufacturer of electronic circuit products, has announced its December 2024 investor conference schedule. The company will participate in two virtual events: the Oppenheimer Midwest Virtual Summit on Wednesday, December 11, and the Northland Virtual Growth Conference on Thursday, December 12. CFO Farouq Tuweiq and VP of Financial Reporting & Investor Relations Lynn Hutkin will represent Bel Fuse at both events, conducting meetings throughout each day.
Bel Fuse has completed its previously announced acquisition of Enercon Technologies, acquiring an 80% stake for $320 million based on a $400 million enterprise value. The deal includes up to $10 million in potential earnouts for 2025-2026, with plans to acquire the remaining 20% by early 2027. The transaction was funded with $80 million cash and $240 million in credit facility borrowings.
Enercon, headquartered in Netanya, Israel, is a leading supplier of power conversion and networking solutions for military and aerospace markets, with facilities in North America and India. The company reported LTM Q3 2024 sales of $115 million with a 47% gross profit margin. This acquisition expands Bel's aerospace and defense market portfolio and manufacturing capabilities.
Bel Fuse Inc. (Nasdaq: BELFA and BELFB) has announced its November 2024 investor conference schedule. The company will participate in two major events: the Baird 2024 Global Industrial Conference in Chicago on November 12, featuring a presentation at 8:30 am CT, and the 16th Annual Southwest IDEAS Investor Conference in Dallas on November 21, with a presentation at 2:00 pm CT.
CFO Farouq Tuweiq and VP Financial Reporting & Investor Relations Lynn Hutkin will attend both conferences, conducting meetings throughout the day. Investor presentation materials will be available on Bel Fuse's website in the investor relations section.
Bel Fuse has declared its regular quarterly cash dividends for both share classes. Class A shareholders will receive $0.06 per share, while Class B shareholders will receive $0.07 per share. The dividends will be paid on January 31, 2025, to shareholders of record as of January 15, 2025. The company currently has approximately 2,115,000 Class A common shares and 10,432,000 Class B common shares outstanding, totaling 12,547,000 common shares.
Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a company specializing in electronic circuit products, has announced its schedule for releasing third quarter 2024 financial results. The preliminary results will be disclosed after the market closes on Wednesday, October 23, 2024. Following this, an earnings conference call is set for Thursday, October 24, 2024, at 8:30 a.m. ET.
Interested parties can participate in the call by dialing 877.407.0784 (or 201.689.8560 for international callers). The call will also be accessible online at https://ir.belfuse.com/events-and-presentations. A replay of the call will be available from 12:30 p.m. ET for 30 days, accessible by dialing 844.512.2921 (or 412.317.6671 for international callers) with the Conference ID: 13749258.
Bel Fuse Inc. (Nasdaq:BELFA and BELFB) has announced an agreement to acquire an 80% stake in Enercon Technologies for $320 million, with plans to purchase the remaining 20% by early 2027. The acquisition, based on a $400 million enterprise value, will significantly expand Bel's presence in the aerospace and defense markets, increasing exposure from 17.5% to 31% of total revenue. Enercon, a leading supplier of power conversion and networking solutions, reported LTM Q2 2024 sales of $111 million with a 46% gross profit margin. The deal is expected to be accretive to Bel's GAAP EPS within one year and non-GAAP EPS immediately. The transaction, subject to regulatory approvals, is anticipated to close by the end of 2024.
Bel Fuse Inc. (NASDAQ: BELFA and BELFB) has announced its regular quarterly cash dividends. The company's Board of Directors declared dividends of $0.06 per share for Class A common shares and $0.07 per share for Class B common shares. These dividends will be payable on November 1, 2024, to shareholders of record as of October 15, 2024. Bel Fuse currently has approximately 12,549,000 common shares outstanding, consisting of 2,116,000 Class A common shares and 10,433,000 Class B common shares.