bel q1 results 2020

I want to extend a sincere thank you to the manufacturing associates in each of Bel’s factories around the world who continue to come to work each day with courage and dedication to our Company and our customers. During January, Belships hedged its spot exposure by selling FFA contracts maturing from Q2 2020 to Q1 2021. Total debt at March 31, 2020, net of deferred financing costs, declined to $135.1 million as compared to $143.7 million at December 31, 2019, primarily due to a voluntary prepayment of $8.2 million made in connection with the amendment to the Company's credit agreement in February 2020. Actual results could differ materially from Bel’s projections. The Intelligence Edge Expo June 22-25, 2021. First Quarter 2020 Highlights Net SalesNet sales were $104.0 million, down $21.4 million, or 17.1%, from last year’s first quarter. Bel's product groups include Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components), Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), and Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies). 2nd quarter 2020 results. This led to a portion of scheduled shipments being deferred to the second quarter, and cost approximately $14-$17 million in first quarter sales. All comparative percentages are on a year-over-year basis, unless otherwise noted. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net (loss) earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. Non-GAAP financial measures, such as Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA, exclude the impact of acquisition-related costs and restructuring charges. JERSEY CITY, N.J., April 16, 2020 — Bel Fuse Inc. (“Bel,” or, “the Company”) (Nasdaq:BELFA and Nasdaq:BELFB), a leading supplier of products that power, protect and connect electronic circuits, today announced that the Company will release preliminary financial results for the first quarter of 2020 prior to the commencement of trading on Friday, May 1, […] Included within SG&A expenses is a loss on the cash surrender value of company-owned life insurance (COLI) policies of $2.0 million in the first quarter of 2020 compared to a gain on these policies of $1.0 million in the first quarter of 2019. Fiera Capital Corporation (FRRPF) CEO Jean-Guy Desjardins on Q3 2020 Results - Earnings Call Transcript. Goodwill and other intangible assets, net, ERP system implementation consulting costs. We are the leading listing and trading venue in Europe with €3.8 trillion combined market capitalisation at the end of September 2020, more than 1,500 listed companies and the largest liquidity pool in Europe. We may use Non-GAAP financial measures to determine performance-based compensation and management believes that this information may be useful to investors. To participate in the conference call, investors should dial 888-394-8218, or 323-794-2590 if dialing internationally. Bel Fuse's (BELFB) CEO Dan Bernstein on Q1 2020 Results - Earnings Call Transcript GlobeNewsWire - 10 months ago Bel Fuse Inc. The webcast will be available via replay for a period of 20 days at this same Internet address. Earnings per share decreased 240.00% year … https://ir.belfuse.com/events-and-presentations, ATTO Technology Announces Support for Apple’s Next Generation Operating System macOS® 11 Big Sur, Qualia Announces new ‘Physical Document Service’ for Mortgage Industry, Jamf Announces Same-Day Support for Apple’s macOS Big Sur, Selling, general and administrative expenses, (Benefit from) provision for income taxes, Class A common shares – basic and diluted, Class B common shares – basic and diluted. Bharat Elec Standalone September 2020 Net Sales at Rs 3,188.66 crore, up 16.26% Y-o-Y. We may use Non-GAAP financial measures to determine performance-based compensation and management believes that this information may be useful to investors. These products are primarily used in the networking, telecommunications, computing, military, aerospace, medical, transportation and broadcasting industries. I want to extend a sincere thank you to the manufacturing associates in each of Bel's factories around the world who continue to come to work each day with courage and dedication to our Company and our customers. Bel Fuse's (BELFB) CEO Dan Bernstein on Q1 2020 Results - Earnings Call Transcript Fri, May 1 • 2 Comments Bel Fuse's (BELFB) CEO Dan Bernstein on Q4 2019 Results - Earnings Call Transcript We have implemented significant protective measures throughout our facilities, including travel and visitor restrictions, work from home policies, employee screenings, social distancing and use of face coverings as we continue to service our customers. Selling, General and Administrative Expenses (SG&A)SG&A expenses were $22.1 million, up $2.8 million from the first quarter of 2019. However, beyond the second quarter, we have limited visibility due to the evolving COVID-19 environment.” concluded Mr. Bernstein. The financial impact of the extended Lunar New Year holiday and other operational inefficiencies at our facilities in Asia related to COVID-19 was largely offset by $2.2 million of stimulus funding received from the Chinese government during the first quarter of 2020 associated with COVID-19 relief programs. Non-GAAP Financial MeasuresThe Non-GAAP measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America (“GAAP”). Website InformationWe routinely post important information for investors on our website, www.belfuse.com, in the “Investor Relations” section. SA Transcripts. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. May 01, 2020 07: 30 ET | Source: Bel Fuse Inc. JERSEY CITY, N.J., May 01, 2020 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer and provider of products that November 11, 2020 About BelBel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. Operating (Loss) IncomeOperating (loss) income was $(3.1) million, down from $3.4 million in the first quarter of 2019, with an operating margin of -3.0% compared to 2.7% in the first quarter of 2019. The Blockchain … Conference CallBel has scheduled a conference call at 11:00 a.m. However, beyond the second quarter, we have limited visibility due to the evolving COVID-19 environment.” concluded Mr. Bernstein. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. By geographic area: Europe sales were down by 22.3%, North America sales declined by 7.8% and Asia sales were lower by 29.8%. “We’ve seen positive signs in Bel’s underlying business as we enter the second quarter. Net (Loss) EarningsThe above factors resulted in net loss of $(3.8) million in the first quarter of 2020 as compared with net earnings of $1.1 million in the first quarter of 2019. This resulted in an effective tax rate of 16.9% during the first quarter of 2020, compared to an effective tax rate of 3.3% during the same quarter last year. Quarterly Results. TORONTO, May 12, 2020 /CNW/ - Today, Park Lawn Corporation (TSX:PLC.TO - News) ("PLC" or the "Company") announced its results for the first quarter ("Q1") ended March 31, 2020.The results show strong revenue growth, with an increase of 47.5% as compared to the same period in 2019. About BelBel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. Financial Highlights of Q2 2021 result are: Revenue: Dell was able generate revenue of $21,897 million Q1 2021, compared to $21,908 million generated in Q1 2020. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. This led to a portion of scheduled shipments being deferred to the second quarter, and cost approximately $14-$17 million in first quarter sales. Website InformationWe routinely post important information for investors on our website, www.belfuse.com, in the "Investor Relations" section. ET, also for 20 days. In the first half of 2020, Bel generated consolidated sales of €1,737 million, up 4.8% on a published basis, versus €1,658 million in the prior-year period. Gross Profit: Gross Profit earned by the company in Q1 2021 was $6,853 million, down by 1% from $6,797 million in Q1 2020. Balance Sheet DataAs of March 31, 2020, working capital was $188.2 million, including $68.4 million of cash and cash equivalents with a current ratio of 3.5-to-1. We may use Non-GAAP financial measures to determine performance-based compensation and management believes that this information may be useful to investors. We use our website as a means of disclosing material, otherwise non-public information and for complying with our disclosure obligations under Regulation FD. Chevrolet Traverse sales fell 12 percent to 30,095 units in Q1 2020 in the USA, behind the Ford Explorer and Toyota Highlander but ahead of the Honda Pilot. 10:30. May 01, 2020 07: 30 ET Bel Fuse, Inc. First Quarter Results Conference Call. Our Non-GAAP measures may not be comparable to other similarly-titled captions of other companies due to differences in the method of calculation. CUI bookings during the first quarter were over $11 million, one of their highest booking quarters in history, which was a contributing factor to Bel’s consolidated book-to-bill ratio of 1.3 for the first quarter. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. Selling, General and Administrative Expenses (SG&A)SG&A expenses were $22.1 million, up $2.8 million from the first quarter of 2019. For those unable to access the live call, a telephone replay will be available at 844-512-2921, or 412-317-6671 if dialing internationally, using access code 1896455 after 2:00 p.m. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. By product segment: Connectivity Solutions sales declined by 11.9%, Magnetic Solutions sales were lower by 24.8% and Power Solutions and Protection sales were down by 15.6%. Q3 2019 Press Release 93.9 KB. We have implemented significant protective measures throughout our facilities, including travel and visitor restrictions, work from home policies, employee screenings, social distancing and use of face coverings as we continue to service our customers. JERSEY CITY, N.J., May 01, 2020 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer and provider of products that power, protect and connect electronic circuits, today announced preliminary financial results for the first quarter of 2020. Please refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures. Bel Fuse, Inc. Fourth Quarter Results Conference Call . Certain statements in this document concern prognoses about the future financial condition, risks, investment plans, and the results of operations of Randstad N.V. and its operating companies, as well as certain plans and objectives. Announces Regular Quarterly Cash Dividend on its Class A and Class B Shares In addition to the effects from such deferred shipments, the Company also incurred additional indirect COVID-19 related costs, including operational inefficiencies and employee retention programs in the quarter. We may use Non-GAAP financial measures to determine performance-based compensation and management believes that this information may be useful to investors. The Company operates facilities around the world. ET today. While this remains a fluid situation that evolves daily, as of today, we are pleased to report that all of our manufacturing sites are operating, with the majority of them at or near normal production rates. Net (Loss) EarningsThe above factors resulted in net loss of $(3.8) million in the first quarter of 2020 as compared with net earnings of $1.1 million in the first quarter of 2019. Conference CallBel has scheduled a conference call at 11: 00 a.m. ITEXPO June 22-25, 2021. Randstad N.V. 21 July 2020 | disclaimer. The foreign exchange effect positively impacted consolidated sales by €8 million, or 0.5%. We undertake no obligation to update or revise any forward looking statements. Balance Sheet DataAs of March 31, 2020, working capital was $188.2 million, including $68.4 million of cash and cash equivalents with a current ratio of 3.5-to-1. The following tables detail the impact that certain unusual or special items had on the Company’s net (loss) earnings per common Class A and Class B basic and diluted shares (“EPS”) and the line items in which these items were included in the condensed consolidated statements of operations. We undertake no obligation to update or revise any forward looking statements. We present results adjusted to exclude the effects of certain unusual or special items and their related tax impact that would otherwise be included under U.S. GAAP, to aid in comparisons with other periods. Orders received in the first quarter of 2020 were the highest since the third quarter of 2018, indicating that the excess inventory in the supply channel from 2019 has been worked through, and our customers and distribution partners are starting to place replenishment orders again. In comparison, as of December 31, 2019, working capital was $193.0 million, including $72.3 million of cash and cash equivalents with a current ratio of 3.1-to-1. Gross profit margin of 24.2%, down from 24.5% in Q1-19, Cash flow provided by operating activities of $8.1 million. Your email address will not be published. The majority of the products manufactured by Bel are utilized in military, medical and networking applications, and are therefore deemed essential by the various jurisdictions in which we operate. “We've seen positive signs in Bel's underlying business as we enter the second quarter. Q2 2019 Press Release 87 KB. 09.11.2020. Actual results could differ materially from Bel's projections. By product segment: Connectivity Solutions sales declined by 11.9%, Magnetic Solutions sales were lower by 24.8% and Power Solutions and Protection sales were down by 15.6%. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. Net Earnings attributable to PLC shareholders were $734,057 in Q1 2020 compared to $3,325,247 in Q1 2019. Excluding the effects of market fluctuations of our COLI policies, SG&A expense was largely the same in the first quarter of 2020 as compared to the same period of 2019, as incremental SG&A expense from the recently acquired CUI business were offset by lower travel expense and other cost containment efforts. Income TaxesThe provision (benefit) for income taxes was $(0.8) million in the first quarter of 2020, compared to less than $0.1 million in the same period of 2019. Third Quarter. Conference call access: From Canada and the United States: 1-866-865-3087 (toll free), access code 1487309; Outside North America: 1-647-427-7450, access code 1487309; The conference will also be accessible live via webcast. Among the factors that could cause actual results to differ materially from such statements are: the market concerns facing our customers; the continuing viability of sectors that rely on our products; the impact of public health crises (such as the governmental, social and economic effects of COVID-19); the effects of business and economic conditions; difficulties associated with integrating previously acquired companies; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; risks associated with foreign currencies; uncertainties associated with legal proceedings; the market’s acceptance of the Company’s new products and competitive responses to those new products; the impact of changes to U.S. trade and tariff policies; and the risk factors detailed from time to time in the Company’s SEC reports. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net (loss) earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. Q1 2020 Financial Results. Bel Reports Fourth Quarter and Full Year 2019 Results. H1 Results 2020 July 31st 2020. These measures should not be considered a substitute for, and the reader should also consider, income from operations, net earnings, earnings per share and other measures of performance as defined by GAAP as indicators of our performance or profitability. Shareholding patternAs of 30-JUNE-2020 , foreign institutional investors held 7.86 % stake in the company , while the promoters held 51.14 per cent. Orders received in the first quarter of 2020 were the highest since the third quarter of 2018, indicating that the excess inventory in the supply channel from 2019 has been worked through, and our customers and distribution partners are starting to place replenishment orders again. We present results adjusted to exclude the effects of certain unusual or special items and their related tax impact that would otherwise be included under U.S. GAAP, to aid in comparisons with other periods. This resulted in an effective tax rate of 16.9% during the first quarter of 2020, compared to an effective tax rate of 3.3% during the same quarter last year. Second Quarter. ET, also for 20 days. Shares of Bel Fuse (NASDAQ:BELFA) remained unaffected at $7.11 after the company reported Q1 results. Unless otherwise noted costs were partially offset by COVID-19 relief funding received from the Chinese government the. As we enter the second quarter, we have limited visibility due to the total to... Of Earnings per share may not agree to the evolving COVID-19 environment. ” concluded Mr. Bernstein Relations ''.. Participate in the networking, telecommunications, computing, military, aerospace, medical, transportation and broadcasting.. 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