Bel Fuse Inc - BELFA STOCK NEWS

Bel Fuse Inc. announced the appointment of Farouq Tuweiq as Chief Financial Officer, effective February 15, 2021. CEO Daniel Bernstein praised Tuweiq's extensive experience in acquisitions and finance, emphasizing his role in enhancing the company's growth strategy and unlocking shareholder value. Tuweiq's background includes leading the Industrial Technology Investment Banking practice at BMO Capital Markets and prior roles at Schneider Electric and Ernst and Young. With a strong academic foundation, Tuweiq is expected to positively influence Bel's financial and operational strategies.

Bel Fuse, a leading supplier of products that power and protect electronic circuits, will participate in the 23rd Annual Needham Growth Conference virtually from January 11-15, 2021. Key executives, including CEO Daniel Bernstein, will be available for one-on-one meetings on January 15. A group presentation will occur at 1:15 PM (Eastern Time) on the same day, accessible through Bel's website. The company designs and manufactures products for various industries, including telecommunications and military, operating globally.

Bel Fuse Inc (Nasdaq:BELFA and Nasdaq:BELFB) announced participation in the Sidoti & Co. Virtual Micro Cap Conference on November 19, 2020. Key executives, including Dennis Ackerman, Craig Brosious, and Lynn Hutkin, will be available for investor discussions throughout the day. A group presentation is scheduled for 10:00 AM ET, accessible via webcast through Bel's investor relations page. Bel specializes in products that power, protect, and connect electronic circuits, serving industries like telecommunications and aerospace.

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.

Bel Fuse reported preliminary Q2 2020 results with net sales of $121.2 million, down 4.9% year-over-year. The gross profit margin improved to 26.2%, up from 21.0% in Q2 2019, and net earnings rose to $5.6 million compared to $3.0 million last year. Non-GAAP EPS increased to $0.43 per Class A share. The backlog is strong at $179.6 million, up 12% from the end of last year, with cash flow from operations of $8.8 million. However, sales declined across all segments, highlighting challenges amid the COVID-19 impact.