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Bel Fuse names Kenneth Lai as SVP ITDS; annual meeting approves 2026 equity plan
Kenneth Lai named Senior Vice President ITDS, effective late Q2/early Q3 2026; responsibilities expanded to India/private label; no longer executive officer.
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Bel Fuse prices upsized 1.5M share Class B offering at $266; net $383M for debt, Enercon acquisition
Offering of 1,500,000 Class B shares (plus 225,000 over-allotment) at $266 per share; gross proceeds $399M.
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Bel Fuse Q1 sales $178.5M (+17% YoY); GAAP EPS down, non-GAAP up; guides Q2 revenue $195M-$215M
Net sales $178.5M, up 17.2% YoY from $152.2M; gross margin 39.0% vs 38.6%.
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Bel Fuse realigns into two end-market segments, appoints Smelker and Dawson as presidents
New segments: Aerospace, Defense & Rugged Solutions (~$369M, 55% of FY25 sales) and Industrial Technology & Data Solutions (~$307M, 45%).
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Bel Fuse Q4 sales up 17% to $175.9M; non-GAAP net earnings $24.9M; provides Q1 guidance
Q4 net sales $175.9M (+17.4% YoY); gross margin 39.4% vs 37.5% in Q4-24.
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Bel Fuse Announces Retirement of Pete Bittner and Appointment of Thomas Smelker as President of Connectivity Solutions
Pete Bittner will retire on April 3, 2026 after 35 years at Bel Fuse; under his leadership Connectivity Solutions profitability doubled over four years.
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Bel Fuse expects ~$14M pre-tax impairment in Q4 2025 on Innolectric investment after insolvency filing
Pre-tax impairment of up to ~$14M expected in Q4 2025, covering full loss of $10M investment and $4M notes receivable.
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Bel Fuse Q3 sales up 44.8% YoY to $179M; guides Q4 sales $165-180M
GAAP net earnings $22.3M vs $8.1M in Q3-24; adjusted EBITDA $39.2M (21.9% of sales).
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Bel Fuse Q2 net sales $168M (+26% YoY); GAAP EPS up; guides Q3 sales $165-180M
Net sales $168.3M, up 26.3% from $133.2M in Q2-24.
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Bel Fuse CEO transition effective May 27; Tuweiq named President/CEO, Bernstein becomes Chairman
Farouq Tuweiq promoted from CFO to President and CEO effective May 27, 2025.
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Bel Fuse Q1 sales up 19% to $152.2M; organic down 6.4%; Q2 guidance tempered by tariffs
Q1 net sales $152.2M (+19% YoY), incl. $32.4M from Enercon; organic sales down 6.4%.
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Bel Fuse reports Q4 GAAP net loss of $1.8M; organic sales down 7.8%; CEO transition announced
GAAP net loss attributable to Bel shareholders of $1.8M in Q4 2024 vs net earnings of $12.0M in Q4 2023.
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CEO succession: Daniel Bernstein to step down, CFO Farouq Tuweiq to become CEO after May 2025 meeting
Daniel Bernstein to step down as President & CEO effective after May 27, 2025 Annual Meeting; to become Non-Executive Chairman.
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Bel Fuse files Enercon financials; FY2023 revenue $95.7M, net income $14.3M
Enercon FY2023 revenue $95.7M (+18% YoY), gross profit $40.7M, operating profit $21.9M.
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Bel Fuse closes $320M acquisition of 80% stake in Enercon Technologies, defense power supplier
Cash purchase price $320M plus up to $10M earnout; enterprise value $400M.
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Bel Fuse Q3 net sales $123.6M (-22% YoY); adj EBITDA $20.6M; Q4 guidance $117-125M
Net sales $123.6M vs $158.7M in Q3-23; net earnings $8.1M vs $19.4M; gross margin 36.1% up from 35.0%.
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Bel Fuse agrees to buy 80% of Enercon Technologies for $320M plus earnout
Purchase price $320M at closing plus up to $10M earnout based on Enercon's EBITDA targets for fiscal 2025 and 2026.
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Bel Fuse to acquire 80% of Enercon Technologies for $320M, expanding A&D exposure to 31%
Enterprise value $400M; Bel acquires 80% for $320M cash plus up to $10M earnout for 2025-2026.
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Bel Fuse Q2 net sales $133.2M, down 21% YoY; gross margin improves to 40.1%
Net earnings $18.8M vs $27.8M in Q2-23; adjusted EBITDA $27.4M (20.6% of sales).
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Bel Fuse Q1 sales $128.1M (-26% YoY); net earnings $15.9M; Q2 sales guide $125-135M
Net sales $128.1M vs $172.3M in Q1-23; net earnings $15.9M vs $14.6M YoY.
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Bel Fuse Q4 net sales down 17% YoY to $140M; gross margin expands; announces $25M buyback
Q4 net sales $140.0M, down 17% YoY; full-year net sales $639.8M, down 2% YoY.
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Bel Fuse Q3 net earnings rise to $19.4M despite 11% sales decline; guides Q4 sales $146-$154M
Net sales of $158.7M, down 11% from $177.7M in Q3-22; non-GAAP adjusted sales $157.7M.
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Bel Fuse Q2 net earnings $27.8M, gross margin 32.9%; CEO notes record power sales, commercial aerospace up 102%
Net sales $168.8M (vs $170.6M Q2-22); gross margin 32.9% (up from 26.6% YoY).
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Bel Fuse Q1 2023 sales up 26% to $172.3M; net earnings $14.6M vs $5.1M
Net sales $172.3M (+26.1% YoY); gross margin 31.1% up from 25.0%.
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Bel Fuse reports record FY22 net sales $654M (+20%), net earnings $52.7M, Q4 sales +15% YoY
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).
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Bel Fuse Q3 sales $177.7M (+20.9%), net earnings $16.5M; adjusted EBITDA record $27.3M
Net sales $177.7M, up 20.9% YoY; net earnings $16.5M vs $5.7M in Q3-21.
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Bel Fuse announces retirements of VP Asia Ops and Zhongshan Ops Dir; Lai named successor
Raymond Cheung (VP Asia Ops) will retire effective Jan 1, 2023, after 31 years.
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Bel Fuse Q2 net sales $170.6M (+22.9% YoY), net earnings $17.0M, record backlog $580M
Net earnings $17.0M vs $7.9M in Q2-21; adjusted EBITDA $19.1M, up 65% YoY.
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Bel Fuse Q1 2022 net sales $136.7M (+23.6%), net earnings $5.1M, backlog $525M
Net sales of $136.7M, up 23.6% YoY; gross margin improved to 25.0% from 21.9%.
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Bel Fuse Q4 net sales $147.1M (+26.7% YoY); net earnings $8.0M, more than double Q4-20
Gross profit margin improved to 26.7% from 25.3% in Q4-20.
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Bel Fuse Q3 net sales up 18% to $147M; GAAP EPS down to $0.44; record backlog $390M
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.