Revenue and Sales Performance - The Company's revenues for the first three months of 2021 increased by $6.7 million, or 6.4%, compared to the same period in 2020, primarily driven by the Power Solutions and Protection segment [87]. - The backlog of orders reached $233.7 million at March 31, 2021, an increase of $78.7 million, or 51%, from December 31, 2020, with a 74% increase in the backlog for Power Solutions and Protection [88]. - Power Solutions and Protection products saw a sales increase of $7.5 million in Q1 2021, driven by a 25% increase in CUI sales and a 100% increase in eMobility product sales [100]. - Sales of Magnetic Solutions products remained consistent in Q1 2021 compared to Q1 2020, with increased demand but challenges in manufacturing due to the competitive labor market in China [99]. Cost and Expense Analysis - Material costs as a percentage of revenue rose to 45.5% during the first three months of 2021, up from 43.6% in the same period of 2020, due to supply constraints and increased prices for certain components [91]. - Labor costs increased from 8.9% of revenue in Q1 2020 to 9.1% in Q1 2021, influenced by wage increases and unfavorable exchange rate fluctuations [92]. - The gross margin for the Connectivity Solutions segment declined to 25.7% in Q1 2021 from 28.6% in Q1 2020, primarily due to higher material costs [97]. - Cost of sales as a percentage of revenue increased to 78.1% in Q1 2021 from 75.2% in Q1 2020, primarily due to higher material costs and labor costs [101]. - R&D expenses decreased to $5.0 million in Q1 2021 from $6.1 million in Q1 2020, reflecting cost savings from the closure of the R&D facility in Switzerland [104]. - SG&A expenses rose to $21.0 million in Q1 2021, with salaries and fringe benefits increasing by $1.4 million compared to Q1 2020 [105]. - The appreciation of the Chinese Renminbi and British Pound led to higher operating costs of $1.2 million in Q1 2021 compared to the same period in 2020 [117]. Financial Position and Liquidity - The Company maintained a strong cash position of $74.0 million as of March 31, 2021, despite utilizing $19.4 million for acquisitions in the same quarter [86]. - Cash and cash equivalents decreased by $10.9 million in Q1 2021, primarily due to acquisition payments of $14.8 million and capital expenditures of $1.2 million [113]. - The Company has implemented measures to maintain liquidity, including deferring employer social security taxes and restricting new hires [86]. Tax and Earnings Outlook - The provision for income taxes was $1.0 million in Q1 2021, compared to a benefit of ($0.8) million in Q1 2020, with an effective tax rate of 23.8% [107]. - The effective tax rate will fluctuate based on the geographic jurisdiction of pretax profits, with Asia having the lowest tax rates among the Company's segments [95]. - The Company expects positive contributions to net earnings from recent acquisitions and cost savings from restructuring efforts implemented in 2020 [96]. Operational Challenges - The Company anticipates that raw material shortages and long lead times may impact shipment timing, despite a scheduled backlog indicative of stronger sales in upcoming quarters [96]. - Days sales outstanding (DSO) increased to 60 days at March 31, 2021, compared to 57 days at December 31, 2020 [113]. - The company incurred cumulative costs of $7.0 million for the ERP implementation project, achieving annual cost savings of approximately $2 million in SG&A expenses [112].

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, 2020 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 ...

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 September 30, 2020 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. 0-11676 BEL FUSE INC. 206 Van Vorst Street Jersey City, NJ 07302 (201) 432-0463 (Address of principal exec ...

Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☒ Emerging growth company ☐ Title of Each Class Trading Symbol Name of Exchange on Which Registered Class A Common Stock ($0.10 par value)BELFA Nasdaq Global Select Market Class B Common Stock ($0.10 par value)BELFB Nasdaq Global Select Market 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 A ...

Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☒ Emerging growth company ☐ Title of Each Class Trading Symbol Name of Exchange on Which Registered Class A Common Stock ($0.10 par value)BELFA Nasdaq Global Select Market Class B Common Stock ($0.10 par value)BELFB Nasdaq Global Select Market 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 A ...

Title of Each Class Trading Symbol Name of Each Exchange on which Registered Class A Common Stock ($0.10 par value) BELFA NASDAQ Global Select Market Class B Common Stock ($0.10 par value) BELFB NASDAQ Global Select Market (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, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _______ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol Name of Exchange on Which Registered Class A Common Stock ($0.10 par value)BELFA Nasdaq Global Select Market Class B Common Stock ($0.10 par value)BELFB Nasdaq Global Select Market FORM 10-Q (MARK ONE) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2019 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...

Financial Data and Key Metrics Changes - Third quarter sales were $124.5 million, with North American sales at $65.8 million (down 7%), European sales at $18.7 million (down 16%), and Asian sales at $40 million (down 25%) compared to the same quarter last year [9] - Gross profit margin declined to 18% in Q3 2019 from 19.9% in Q3 2018 due to lower sales and higher material costs [11] - Earnings per share for Class A common shares was a loss of $0.51 in Q3 2019 compared to earnings of $0.89 in Q3 2018 [17] - Non-GAAP EPS for Class A shares was $0.19 in Q3 2019 compared to $0.70 in Q3 2018 [18] Business Line Data and Key Metrics Changes - Power Solutions and Protection sales were $40.3 million (down 10%), Connectivity Solutions sales were $44.5 million (down 8%), and Magnetic Solutions sales were $39.7 million (down 25%) compared to the same quarter last year [10] - The decline in Magnetic Solutions was attributed to a key customer building excess inventory prior to a product launch, leading to a slowdown in sales [27] Market Data and Key Metrics Changes - The company experienced softness in demand from customers and channel partners as they worked through high inventory levels [6] - Bookings improved slightly from Q2 2019, but fourth quarter sales are anticipated to decline from Q3 levels [8] Company Strategy and Development Direction - The company is focusing on streamlining operations to create efficiency and improve profitability across U.S., Europe, and Asia throughout 2020 [7] - There is an ongoing review of operations in Asia to yield additional cost savings, with a focus on potential relocations to countries like Vietnam and Malaysia [38] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the second half of 2020, anticipating that inventory levels will normalize [25] - The company is facing challenges due to tariffs and geopolitical uncertainties, which are impacting customer purchasing behavior [48] Other Important Information - The company recorded a goodwill impairment charge of $8.9 million in Q3 2019 due to a review of its North America segment [14] - Cash and cash equivalents increased to $64.8 million as of September 30, 2019, up $10.9 million from December 31, 2018 [19] Q&A Session Summary Question: What do you hear on the channel regarding inventory? - Management indicated that distributors predict inventory will be flushed out by the second half of 2020, but if it extends beyond that, a substantial market downturn may occur [25] Question: Is the decline in Magnetic Solutions tied to a customer or product transition? - The decline was linked to a key customer who built up excess inventory before a product launch, which is expected to normalize by the end of Q1 2020 [27] Question: What is happening in the Power Solutions business? - A significant decline was noted due to a key customer, Facebook, reducing orders because of tariffs and competitive pricing pressures [29] Question: How should gross margins be viewed in the current environment? - Management expects to maintain gross margins in Q4 2019 at similar levels to Q3, aided by favorable foreign exchange conditions [33] Question: Are there any signs of improvement in the business? - A slight uptick in the magnetic side was noted, but overall visibility remains limited due to inventory overstock issues [37] Question: Is there any activity in the M&A pipeline? - Management noted that private equity is driving high valuations, making acquisitions challenging, but they are still exploring opportunities [40] Question: What new products can be expected in military and aerospace? - The company is working on active optical transceiver projects and has secured agreements with Boeing for aerospace connectors [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ Large accelerated filer [ ] Accelerated filer [X] Non-accelerated filer [ ] Smaller reporting company [X] Emerging growth company [ ] Title of Each Class Trading Symbol Name of Exchange on Which Registered Class A Common Stock ($0.10 par value)BELFA Nasdaq Global Select Market Class B Common Stock ($0.10 par value)BELFB Nasdaq Global Select Market FORM 10-Q (MARK ONE) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR ...

Bel Fuse Inc. (NASDAQ:BELFB) Q2 2019 Earnings Conference Call August 1, 2019 11:00 AM ET Company Representatives Dan Bernstein - President, Chief Executive Officer Craig Brosious - Vice President of Finance Lynn Hutkin - Director of Financial Reporting Conference Call Participants Theodore O’Neill - Litchfield Hills Research Jim Ricchiuti - Needham & Company Hendi Susanto - G. Research Operator Good day, and welcome to the Bel Fuse Inc. Second Quarter 2019 Results Conference Call. Today’s conference is bei ...