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WEST ORANGE, N.J., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. ("Bel," or, "the Company") (NASDAQ:BELFA, NASDAQ:BELFB), announced today that it has closed the previously announced majority stake acquisition of Enercon Technologies, Ltd. ("Enercon") from Fortissimo Capital based on an enterprise value of $400 million. Bel has acquired an 80% stake upfront for $320 million (subject to customary adjustments), plus up to $10 million of potential earnout payments for the 2025-2026 period, with the intent to purchase the remaining 20% by early 2027 based on future EBITDA performance. The transaction was funded through utilization of cash on hand of approximately $80 million, with approximate
WEST ORANGE, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (NASDAQ:BELFA), a leading global manufacturer of products that power, protect and connect electronic circuits, today announced its investor conference schedule for November 2024: Baird 2024 Global Industrial ConferenceFarouq Tuweiq, CFOLynn Hutkin, VP Financial Reporting & Investor RelationsTuesday, November 12, 2024The Ritz Carlton, ChicagoConducting meetings throughout the day with a presentation at 8:30 am CT 16th Annual Southwest IDEAS Investor Conference Farouq Tuweiq, CFOLynn Hutkin, VP Financial Reporting & Investor RelationsThursday, November 21, 2024The Statler, DallasConducting meetings throughout the day with a
WEST ORANGE, N.J., Oct. 29, 2024 (GLOBE NEWSWIRE) -- BEL FUSE INC. (NASDAQ:BELFA) and (NASDAQ:BELFB) today announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on January 31, 2025 to shareholders of record on January 15, 2025. Bel currently has approximately 12,547,000 common shares outstanding, of which 2,115,000 are Class A common shares and 10,432,000 are Class B common shares. About Bel Bel (www.belfuse.com) designs, manufactures and markets a broad array of products tha
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Bel Fuse (NASDAQ:BELFA) reported quarterly earnings of $1.46 per share which beat the analyst consensus estimate of $0.87 by 67.82 percent. The company reported quarterly sales of $133.205 million which beat the analyst consensus estimate of $128.000 million by 4.07 percent. This is a 21.08 percent decrease over sales of $168.777 million the same period last year.
Bel Fuse (NASDAQ:BELFA) reported quarterly earnings of $1.19 per share which beat the analyst consensus estimate of $0.98 by 21.43 percent. This is a 15.6 percent decrease over earnings of $1.41 per share from the same period last year. The company reported quarterly sales of $128.090 million which missed the analyst consensus estimate of $128.250 million by 0.12 percent. This is a 25.68 percent decrease over sales of $172.344 million the same period last year.
Shares of Etsy, Inc. (NASDAQ:ETSY) fell sharply during Thursday’s session after the company reported mixed fourth-quarter financial results. Etsy reported quarterly earnings of 62 cents per share which missed the analyst consensus estimate of 78 cents. The company reported quarterly sales of $842.3 million, beating the analyst consensus estimate of $827.81 million. Etsy shares dipped 7.5% to $71.34 on Thursday. Here are some other stocks moving in today's mid-day session. Gainers La Rosa Holdings Corp. (NASDAQ:LRHC) shares jumped 160.7% to $3.6499 after the company said it has acquired a 100% interest in the Company's franchisee - La Rosa Realty Winter Garden LLC located in Winter G
WEST ORANGE, N.J., Oct. 29, 2024 (GLOBE NEWSWIRE) -- BEL FUSE INC. (NASDAQ:BELFA) and (NASDAQ:BELFB) today announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on January 31, 2025 to shareholders of record on January 15, 2025. Bel currently has approximately 12,547,000 common shares outstanding, of which 2,115,000 are Class A common shares and 10,432,000 are Class B common shares. About Bel Bel (www.belfuse.com) designs, manufactures and markets a broad array of products tha
Sales and Gross Margin Percentage Above Mid-Point of Expected RangesProvides Q4-24 Sales and Gross Margin Guidance WEST ORANGE, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (NASDAQ:BELFA) today announced preliminary financial results for the third quarter of 2024. Third Quarter 2024 Highlights Net sales of $123.6 million compared to $158.7 million in Q3-23Gross profit margin of 36.1%, up from 35.0% in Q3-23Net earnings of $8.1 million versus $19.4 million in Q3-23Adjusted EBITDA of $20.6 million (16.7% of sales) as compared to $29.9 million (18.8% of sales) in Q3-23Repurchased 26,647 shares of Bel stock at an aggregate cost of $1.9 million in Q3-24 "We were ple
WEST ORANGE, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (NASDAQ:BELFA), a designer, manufacturer, and provider of products that power, protect and connect electronic circuits, today announced plans to release preliminary financial results for the third quarter after market close on Wednesday, October 23, 2024. An earnings conference call has been scheduled as follows: When:Thursday, October 24, 2024 at 8:30 a.m. ETDial in:877.407.0784, or international: 201.689.8560Online:https://ir.belfuse.com/events-and-presentationsHow:Live over the internet – Simply log on to the web at the address aboveReplay:844.512.2921, or international: 412.317.6671Conference ID: 13749258 A repla
WEST ORANGE, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. ("Bel," or, "the Company") (NASDAQ:BELFA, NASDAQ:BELFB), today announced its appointment of Uma Pingali as Global Head of Sales and Marketing, a newly created role. With over 30 years of management experience in global sales, marketing, business development within the electronic industry, Uma is uniquely positioned to lead and accelerate Bel's sales and marketing organizations. His experience with integrating various sales teams that have joined via acquisitions will be very helpful for Bel with our history of acquisitions. Uma started his career in India and has lived and led sales organizations there and in Singapore, Ch
WEST ORANGE, N.J., July 01, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (NASDAQ:BELFA) today confirmed consistent with prior announcements that Dennis Ackerman will retire from the Company effective July 31, 2024 after 37 years of service, having served as President of Bel Power Solutions and Protection since 2014. As previously announced, Steve Dawson, who most recently served as Vice President of Marketing and Business Development for the Power segment, has been named to succeed Mr. Ackerman. His appointment as the new President of Bel Power Solutions and Protection is effective July 1, 2024. Mr. Ackerman joined Bel in 1986 and held the positions of Customer Service Manager, Sales Manager, P
WEST ORANGE, N.J., March 07, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (NASDAQ:BELFA) ("Bel" or the "Company"), a designer, manufacturer, and provider of products that power, protect and connect electronic circuits, today announced that John Tweedy will retire from the Board and not stand for re-election at the Company's 2024 Annual Meeting of Shareholders. The Board of Directors plans to nominate David Valletta to join the Board in 2024. Mr. Tweedy has served on Bel's Board since 1996 and throughout the years has served on various committees including Audit and Executive. John has been instrumental during Bel's various acquisitions, international expansion, and recent changes to the overa
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8-K - BEL FUSE INC /NJ (0000729580) (Filer)
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8-K - BEL FUSE INC /NJ (0000729580) (Filer)