Welcome to our dedicated page for Bel Fuse news (Ticker: BELFB), a resource for investors and traders seeking the latest updates and insights on Bel Fuse stock.
Bel Fuse Inc. designs, manufactures, and markets electronic components, systems, and solutions that power, protect, and connect electronic circuits. The company serves aerospace, defense, industrial, data-driven, networking, telecommunications, computing, transportation, e-Mobility, medical, broadcasting, automotive, and consumer electronics markets through power solutions and protection, connectivity solutions, and magnetic solutions.
Bel Fuse news regularly covers operating results, conference participation, cash dividends on Class A and Class B common shares, product-portfolio expansion, and organizational changes. Recent company developments include the completed acquisition of dataMate, an advanced ethernet and broadband business, and a segment realignment into Aerospace, Defense & Rugged Solutions and Industrial Technology & Data Solutions.
Bel Fuse Inc, a key player in electronic circuit products, announces participation in two virtual investor conferences: the 16th Annual Needham Virtual Technology & Media Conference on May 20, 2021, and the Stifel Cross Sector Insight Conference on June 9, 2021. Management will engage in one-on-one investor meetings, and a live group presentation will occur at the Needham conference, accessible through the investor relations section of Bel's website. This participation highlights Bel's commitment to investor relations and product visibility.
Bel Fuse Inc. (NASDAQ:BELFA, BELFB) declared quarterly cash dividends of $0.06 per share for Class A and $0.07 per share for Class B common shares.
The dividends will be payable on July 30, 2021 to shareholders of record as of July 15, 2021.
Currently, Bel has approximately 12,346,000 common shares outstanding, with 2,145,000 Class A and 10,201,000 Class B common shares.
Bel Fuse Inc. reported preliminary financial results for Q1 2021, revealing net sales of $110.6 million, up 6.4% from Q1 2020. Gross profit was $24.3 million (21.9% of net sales), a decrease from last year's gross profit of $25.8 million (24.8%). The company achieved a GAAP net earnings of $3.2 million, significantly improving from a net loss of $(3.8) million in Q1 2020. Key contributors to earnings included a $6.2 million gain from the sale of a Hong Kong property and strong performance in the Power Solutions and Protection segments. The backlog of orders reached $264 million by the end of April 2021.
Bel Fuse Inc (Nasdaq:BELFA and Nasdaq:BELFB) will announce its preliminary financial results for the first quarter of 2021 before trading on May 3, 2021. A conference call is scheduled for 11:00 AM ET on the same day to discuss these results with investors. Participants can join by dialing the provided numbers or by accessing the webcast online. The call will also be available for replay for 20 days. Bel Fuse designs and manufactures products for various industries, including telecommunications and aerospace, emphasizing its broad product range.
Bel Fuse Inc has successfully completed its acquisition of EOS, based in Mumbai, India, for $7 million, effective March 31, 2021. EOS reported annual sales of approximately $12 million in 2020 and employs around 400 associates in a 56,000 square foot facility. This acquisition is expected to enhance Bel's presence in industrial and medical markets, providing new products and opportunities for supply chain efficiencies. CEO Dan Bernstein anticipates the acquisition will contribute positively to EBITDA starting in Q2 2021.
Bel (BELFB) has announced its participation in the upcoming Q1 Investor Summit, scheduled for March 23-25, 2021. Key executives, including Lynn Hutkin (Director of Financial Reporting), Farouq Tuweiq (CFO), and Pete Bittner (President, Cinch Connectivity Solutions), will present on March 25 at 1:30 PM ET. The summit will connect over 100 companies with more than 300 investors, focusing on smallcap and microcap opportunities. Registration for the event is available through their official website.
BEL FUSE INC. (NASDAQ:BELFA, BELFB) announced a quarterly cash dividend of $0.06 per share for Class A and $0.07 per share for Class B common shares. These dividends are payable on April 30, 2021, to shareholders on record as of April 15, 2021. The company has approximately 12,354,000 common shares outstanding, with 2,145,000 in Class A and 10,209,000 in Class B categories. Bel Fuse designs and manufactures products for various industries, including telecommunications, computing, and military.
Bel Fuse reported preliminary financial results for Q4 and full year 2020, showcasing a net sales increase of 0.9% to $116.1 million in Q4, with a significant gross profit margin rise to 25.3%. The company achieved net earnings of $3.6 million, contrasting with a loss of $(6.4) million in Q4-19. Full-year sales totaled $465.8 million, marking a 5.4% decline primarily due to a 60% drop in commercial aerospace sales. Adjusted EBITDA improved 24% to $32.3 million. The company also announced acquisitions of rms Connectors and EOS for $15.5 million, indicating potential growth plans.
Bel Fuse Inc (Nasdaq:BELFA, BELFB) will announce preliminary financial results for Q4 and full year 2020 on February 18, 2021. A conference call with President and CEO Daniel Bernstein and newly appointed CFO Farooq Tuweiq is scheduled for 11:00 AM ET. Investors can join by calling 800-430-8332 (international: 323-289-6581) or via live webcast. The results will cover performance across Bel's diverse product lines, which serve industries including telecommunications, military, and computing.
On January 13, 2021, Bel Fuse (Nasdaq:BELFA, BELFB) announced the acquisition of rms Connectors, enhancing its Military and Aerospace product portfolio. This strategic move adds the MIL-DTL-83723 Series III connector family, expanding Bel's offerings in Mil-Spec qualified connectors. The acquisition is expected to improve operational efficiency by leveraging shared manufacturing resources and a similar customer base. This marks Bel's second acquisition announcement within the same week, highlighting its growth strategy in the defense sector.