Bel Fuse Q3 net sales up 18% to $147M; GAAP EPS down to $0.44; record backlog $390M

BEL FUSE INC /NJ

GAAP net earnings $5.7M ($0.44 per Class A, $0.47 per Class B) vs $7.5M ($0.57/$0.61) in Q3-20.
Gross margin 24.5% vs 26.8% YoY; management cites global labor/material cost pressure.
Record backlog $390M (+100% from Dec 2020); quarterly bookings $223M, ~3x Q3-20.
Jacqueline Brito appointed to Board, effective Oct 28; also receives $89k consulting agreement.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Jacqueline Brito

Director

BELFA · BEL FUSE INC /NJ

Effective: 2021-10-28
Filed: October 29, 2021, 7:59 PM ET

On October 28, 2021, the Board of Directors (the “Board”) of the Company, upon the recommendation of the Nominating Committee of the Board, elected Jacqueline Brito to serve as a director of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jacqueline Brito was elected as Director at BEL FUSE INC /NJ.

Action: elected
Role: Director

Exact text from the filing

On October 28, 2021, the Board of Directors (the “Board”) of the Company, upon the recommendation of the Nominating Committee of the Board, elected Jacqueline Brito to serve as a director of the Company.

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BEL FUSE INC /NJ filing history →

Source: SEC EDGAR

accession 0001437749-21-024597

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