secwatch.observer — SEC 8-K summary
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Issuer:     BEL FUSE INC /NJ (BELFA)
CIK:        0000729580
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001437749-23-028966
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bel Fuse Q3 net earnings rise to $19.4M despite 11% sales decline; guides Q4 sales $146-$154M
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- Net sales of $158.7M, down 11% from $177.7M in Q3-22; non-GAAP adjusted sales $157.7M.
- Gross margin improved to 35.0% from 29.0% year-over-year on favorable product mix.
- Net earnings of $19.4M vs. $16.5M in Q3-22; adjusted EBITDA $29.9M (18.8% of sales).
- Backlog $408M at Sept. 30, 2023; Q4-23 sales expected in $146-$154M range.
- Facility consolidations substantially complete; projected annual cost savings of ~$6.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729580/000143774923028966/0001437749-23-028966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729580/000143774923028966/belfb20230809_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-028966

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