Bel Fuse Inc. (NASDAQ:BELFB) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Jean Marie Young - Managing Director Daniel Bernstein - President and Chief Executive Officer Farouq Tuweiq - Chief Financial Officer Lynn Hutkin - VP, Financial Reporting and IR Conference Call Participants Theodore O'Neill - Litchfield Hills Research James Ricchiuti - Needham & Company Hendi Susanto - Gabelli Funds William Kim - Presidio Asset Management Operator Good morning and welcome to the ...

Revenue Growth - The company's revenues for the first nine months of 2022 increased by $88.7 million, or 22.4%, compared to the same period in 2021, primarily driven by the Power Solutions and Protection group due to increased demand and the EOS acquisition [99]. - Connectivity Solutions revenue increased by $9.9 million (24.5%) and $18.6 million (15.3%) for the three and nine months ended September 30, 2022, respectively, compared to the same periods in 2021 [108]. - Magnetic Solutions revenue improved by $4.7 million (10.2%) and $23.1 million (20.0%) for the three and nine months ended September 30, 2022, respectively, compared to the same periods in 2021 [109]. - Power Solutions and Protection revenue increased by $16.2 million (26.7%) in Q3 2022 and $46.9 million (29.5%) for the first nine months of 2022 compared to the same periods in 2021 [110]. Order Backlog - The backlog of orders reached $582.8 million at September 30, 2022, reflecting a 25% increase from December 31, 2021, with a 48% increase in the Power Solutions and Protection business [98]. - The company experienced a 22% decrease in the backlog for Magnetic Solutions products due to the ordering pattern of a large networking customer [98]. Cost Management - Material costs as a percentage of revenue were 45.9% during the first nine months of 2022, down from 46.6% in the same period of 2021, attributed to a favorable shift in product mix and recent pricing actions [101]. - Labor costs represented 8.4% of revenue in the first nine months of 2022, a decrease from 9.0% in the same period of 2021, influenced by pricing actions and favorable exchange rate fluctuations [102]. - Inflationary pressures are anticipated to impact input costs, including raw materials, labor, and freight, necessitating effective management through pricing actions and cost-saving initiatives [103]. - The company incurred restructuring costs of approximately $9 million related to consolidating Magnetics sites in China, with $3.6 million recognized in the third quarter of 2022 [104]. - The company expects to realize annualized cost savings of approximately $3 million from restructuring initiatives in China, beginning in the fourth quarter of 2023 [104]. Financial Position - The company has a strong cash balance of $70.9 million as of September 30, 2022, compared to $61.8 million at December 31, 2021, with additional borrowing capacity of $65.0 million under its revolving credit facility [96]. - The company reported a cash increase of $9.1 million during the nine months ended September 30, 2022, primarily due to net cash provided by operating activities of $24.1 million [123]. - The current ratio was 2.8 to 1 at September 30, 2022, compared to 2.9 to 1 at December 31, 2021 [124]. - The unused credit available under the credit facility was $65.0 million at September 30, 2022, with compliance to all debt covenants [126]. Accounting Estimates and Policies - The Company has determined that its most critical accounting estimates relate to business combinations, inventory valuation, goodwill, and pension benefit obligations [128]. - There have been no material changes in the Company's critical accounting policies, judgments, and estimates compared to those disclosed in the Company's 2021 Annual Report [128]. - The Company is classified as a "smaller reporting company" and is not required to provide quantitative and qualitative disclosures about market risk [130]. Expenses - R&D expenses decreased to $4.9 million in Q3 2022 from $5.9 million in Q3 2021, and to $14.4 million from $16.3 million for the nine months [115]. - SG&A expenses increased to $22.2 million in Q3 2022 from $21.2 million in Q3 2021, and to $67.2 million from $64.8 million for the nine months [116][117]. Gross Margin and Cost of Sales - Gross margin for Connectivity Solutions was 26.1% in Q3 2022, up from 24.8% in Q3 2021, while for the nine months it was 26.7%, down from 27.0% [107]. - Total cost of sales as a percentage of revenue decreased to 71.0% in Q3 2022 from 75.5% in Q3 2021, and to 73.0% from 76.0% for the nine months [111]. Foreign Exchange - The company realized foreign exchange transactional gains of $0.5 million during the nine months ended September 30, 2022, due to favorable currency fluctuations [105].

Bel Fuse Inc. (NASDAQ:BELFB) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Steven Hooser - Three Part Advisors Dan Bernstein - President and Chief Executive Officer Farouq Tuweiq - Chief Financial Officer Lynn Hutkin - Director, Financial Reporting Conference Call Participants Theodore O'Neill - Litchfield Hills Research Jim Ricchiuti - Needham & Co Hendi Susanto - Gabelli Funds Robert Brooks - Brick by Brick Capital Operator Good morning, ladies and gentlemen, and welcom ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File No. 000-11676 BEL FUSE INC. (Exact name of registrant as specified in its charter) 206 Van Vorst Street Jersey City ...

Bel Fuse Inc. (NASDAQ:BELFB) Q2 2022 Results Conference Call July 28, 2022 8:30 AM ET Company Participants Jean Marie Young - Three Part Advisors Dan Bernstein - President and CEO Farouq Tuweiq - CFO Lynn Hutkin - Director, Financial Reporting Conference Call Participants Theodore O’Neill - Litchfield Hills Research Chris Grenga - Needham & Company Hendi Susanto - Gabelli Funds Operator Good morning, ladies and gentlemen. Welcome to the Bel Fuse Second Quarter 2022 Earnings Conference Call. [Operator Instru ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File No. 000-11676 BEL FUSE INC. (Exact name of registrant as specified in its charter) 206 Van Vorst Street Jersey Cit ...

Financial Data and Key Metrics Changes - The company reported Q1 2022 sales of $137 million, a 24% increase from Q1 2021 [12] - Gross margin for the quarter increased to 25% compared to 21.9% a year prior [12] - Selling, general and administrative expenses were $21 million, maintaining 15.4% of sales, consistent with the previous year [19] Business Line Data and Key Metrics Changes - Power Solutions and Protection sales were $58.8 million, up 35% from last year's first quarter [13] - Connectivity Solutions group sales increased to $43.7 million, a 15% rise from the previous year [15] - Magnetic Solutions group sales reached $34.2 million, an 18% increase from last year [17] Market Data and Key Metrics Changes - Revenue from distribution partners grew by $12.9 million or 36% over the first quarter of 2021 [8] - Demand from commercial aerospace customers rebounded, resulting in $6.2 million in sales, up 90% from last year [8] - Sales in the EV end market generated $5.9 million, an 89% increase from Q1 2021 [9] Company Strategy and Development Direction - The company is focusing on a corporate- and segment-wide strategy refresh, aiming to develop clearly defined goals and objectives [24] - Management is optimistic about continued margin improvement due to pricing actions and operational streamlining [22] - The company is exploring M&A opportunities while prioritizing margin improvement [50] Management Comments on Operating Environment and Future Outlook - Management noted that supply chain constraints and raw material availability remain tight, but all factories are operational [10] - There is an expectation for stronger contributions from pricing actions in the upcoming quarters [22] - The company anticipates demand to remain strong, supported by a record backlog of $525 million [6] Other Important Information - The company ended the quarter with a cash balance of $51.2 million, a decrease of $10.5 million from the previous year-end [20] - Inventory increased by $16.3 million as the company purchased more raw materials to meet rising demand [21] Q&A Session Summary Question: What is the outlook on seasonality for Q2? - Management expects Q2 to be above the $139 million sales mark from last year, based on current backlog and bookings [26] Question: Is there evidence of double ordering due to supply chain issues? - Management has not seen tangible evidence of double ordering but remains cautious [27] Question: What was the impact of COVID-19 in China in April? - Management believes the impact will be minimal as all factories are operational [31] Question: Are there any business trends related to shipment postponements? - Some customers are postponing shipments due to delays in receiving other components, but it has not been drastic [32] Question: What is the company's strategy regarding M&A? - The company is looking for accretive M&A opportunities while focusing on improving margins [50] Question: What is the potential market size for the EV segment? - The company projects the EV market to be around $350 million to $400 million in three years, aiming for a 33% market share [54] Question: Will the company provide long-term revenue and profitability targets? - Management aims to share long-term targets in the future but is currently focused on internal assessments [56]

March 23-24, 2022 Sidoti Conference Safe Harbor Statement The Company's consolidated operating results are affected by a wide variety of factors that could materially and adversely affect revenues and profitability, including the risk factors described in Item 1A of our 2021 Annual Report on Form 10-K. As a result of these and other factors, the Company may experience material fluctuations in future operating results on a quarterly or annual basis, which could materially and adversely affect its business, c ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File No. 000-11676 _____________________ BEL FUSE INC. 206 Van Vorst Street Jersey C ...

Bel Fuse Inc. (NASDAQ:BELFB) Q4 2021 Earnings Conference Call February 25, 2022 8:30 AM ET Company Participants Jean Young - Three Part Advisors Dan Bernstein - President & Chief Executive Officer Lynn Hutkin - Director of Financial Reporting Farouq Tuweiq - Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Research Hendi Susanto - Gabelli Funds Operator Good day, and welcome to the Bel Fuse Inc. Fourth Quarter and Full Year 2021 Results Conference Call. Today's confer ...