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Bel Fuse (BELFB) - 2022 Q3 - Quarterly Report
2022-11-03 16:00
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, 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 ...
Bel Fuse (BELFB) - 2022 Q2 - Quarterly Report
2022-08-04 16:00
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 (BELFB) - 2022 Q1 - Quarterly Report
2022-05-05 16:00
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 ...
Bel Fuse (BELFB) - 2021 Q4 - Annual Report
2022-03-13 16:00
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 (BELFB) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
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, 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 City, NJ 07302 (201) 432-0463 (Address of principal ex ...
Bel Fuse (BELFB) - 2021 Q2 - Quarterly Report
2021-08-05 16:00
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, 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 City, NJ 07302 (201) 432-0463 (Address of principal executi ...
Bel Fuse (BELFB) - 2021 Q1 - Quarterly Report
2021-05-09 16:00
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].
Bel Fuse (BELFB) - 2020 Q4 - Annual Report
2021-03-11 16:00
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 ...
Bel Fuse (BELFB) - 2020 Q3 - Quarterly Report
2020-11-06 16:13
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 ...
Bel Fuse (BELFB) - 2020 Q2 - Quarterly Report
2020-08-08 01:48
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 ...