Bel Fuse Q4 net sales $147.1M (+26.7% YoY); net earnings $8.0M, more than double Q4-20

BEL FUSE INC /NJ

Gross profit margin improved to 26.7% from 25.3% in Q4-20.
Full-year 2021 net sales $543.5M (+16.7%); net earnings $24.8M vs $12.8M.
Adjusted EBITDA $42.8M for 2021, up 33% YoY; Q4 adjusted EBITDA $15.3M (+96%).
Backlog of $468M at year-end, over 200% increase from 2020; driven by eMobility, commercial air, industrials.
Pricing adjustments implemented to offset rising input costs.

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