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. (NASDAQ:BELFA, BELFB) has declared quarterly cash dividends of $0.06 per share for Class A and $0.07 per share for Class B common shares. The dividends are payable on February 1, 2021, to shareholders on record as of January 15, 2021. Currently, Bel has approximately 12,359,000 common shares outstanding, with 2,145,000 designated as Class A and 10,214,000 as Class B. Bel designs and manufactures products for various industries, including telecommunications and aerospace.
Bel Fuse Inc. announced the appointment of Sherry Urban as the new VP of Human Resources, effective immediately. Urban brings over 30 years of corporate HR experience, previously serving as Director of HR for Cinch Connectivity and Bel Power Solutions since 2014. She has played a pivotal role since joining the company through its acquisition of Emerson Network Power Connectivity Solutions. CEO Dan Bernstein praised her exemplary performance and anticipated her contributions to Bel's strategic HR initiatives.
Bel Fuse Inc. (BELFA, BELFB) reported preliminary financial results for Q3 2020, showing net sales of $124.5 million, consistent with Q3 2019. Gross profit margin improved to 26.9%, compared to 23.0% in the prior year. The company posted GAAP net earnings of $7.5 million, reversing a net loss of $6.5 million in Q3 2019. Adjusted EBITDA rose by nearly 33% to $11.8 million. The firm paid down $10 million in debt, reducing leverage to 2.99x. However, overall sales are projected to match Q4 2019 levels, amid ongoing uncertainty in 2021.
Bel Fuse Inc (Nasdaq:BELFA, BELFB) announced a conference call scheduled for October 30, 2020, to discuss its preliminary financial results for the third quarter of 2020. The results will be released before trading begins that day. Investors can join the call by calling 800-437-2398 (international: 323-289-6576) or via a live webcast. A telephone replay will also be available for 20 days after the call.
Bel specializes in products that power, protect, and connect electronic circuits across various industries, including telecommunications, military, and aerospace.
Bel Fuse Inc. (Nasdaq:BELFA, BELFB) will participate in the LD 500 investor conference on September 1-2, 2020. Key executives including President Pete Bittner will engage in one-on-one meetings and lead a live group presentation on September 2 at 10 AM ET. The LD Micro conference, now virtual due to COVID-19, aims to provide accessible learning opportunities for investors. Registration is available online, with the event showcasing unique companies in the microcap sector.