Bel Fuse reports record FY22 net sales $654M (+20%), net earnings $52.7M, Q4 sales +15% YoY

BEL FUSE INC /NJ

Record FY22 net sales $654.2M (+20.4% YoY); net earnings $52.7M vs $24.8M; record adj. EBITDA $83.0M (12.7% of sales).
Q4 net sales $169.2M (+15.0% YoY); Q4 adj. EBITDA $25.0M (14.8% of sales); Q4 net earnings $14.0M vs $8.0M.
Power Solutions Q4 sales +38.5% YoY; Magnetic Solutions -9.5%; Connectivity +7.9%; gross margin expanded 430 bps to 31.0%.
Year-end backlog $565M, up 21% from 2021; full-year gross margin 28.0% vs 24.7%.
Announced investment in Germany-based innolectric AG to enhance eMobility fast-charging offerings.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEL FUSE INC /NJ reported the fourth quarter and full year of 2022 results: revenue $ 169.2 million, net income $ 14.0 million.

Period: the fourth quarter and full year of 2022
Revenue: $ 169.2 million
Net income: $ 14.0 million
Result: preliminary results

Exact text from the filing

Fuse Inc . (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the fourth quarter and full year of 2022 . Fourth Quarter 2022 Highlights • Net sales of $ 169.2 million, up 15.0% from Q4-21 • Gross profit margin of 31.0% , up from 26.7% in Q4-21 • Net earnings of $ 14.0 million versus $ 8.0 million in Q4-21 • Adjusted EBITDA of $25.0 million (

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Source: SEC EDGAR

accession 0001437749-23-004197

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