Bel Fuse reports Q4 GAAP net loss of $1.8M; organic sales down 7.8%; CEO transition announced

BEL FUSE INC /NJ

GAAP net loss attributable to Bel shareholders of $1.8M in Q4 2024 vs net earnings of $12.0M in Q4 2023.
Q4 net sales $149.9M, up 7% YoY; organic sales down 7.8% excluding $20.8M from Enercon acquisition.
Adjusted EBITDA $30.3M (20.2% of sales) vs $27.3M (19.5%) in Q4-23; gross margin 37.5% vs 36.6%.
Full year 2024 GAAP net earnings $41.0M vs $73.8M; non-GAAP net earnings $72.1M vs $89.6M.
CEO Daniel Bernstein to transition President and CEO roles; CFO Farouq Tuweiq involved; Enercon deal closed Q4.

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