Bel Provides Fourth Quarter 2018 Update
January 15 2019 - 3:24PM
Bel Fuse Inc. (NASDAQ:BELFA and NASDAQ:BELFB), a
leading global manufacturer of products that power, protect and
connect electronic circuits, today announced preliminary updates
related to the fourth quarter of 2018.
Net Sales and Backlog
The Company anticipates reporting net sales of
approximately $143 million for the fourth quarter of 2018, up 19%
from the same quarter of 2017. This is expected to result in full
year 2018 sales of approximately $548 million, compared to $492
million for 2017. Fourth quarter 2018 bookings (orders received)
continued to have year-over-year improvement over the 2017 period,
bringing annual bookings for 2018 to approximately $578 million as
compared to $516 million in 2017. The Company’s backlog of orders
was $171.2 million at December 31, 2018, up 17% from $146.5 million
at December 31, 2017.
The Company expects to report its preliminary
financial results for the fourth quarter and full year 2018 on
February 21, 2019.
Forward-Looking Statements
Non-historical information contained in this
press release (such as the statements regarding the anticipated net
sales for the fourth quarter of 2018 and bookings for 2018) are
forward-looking statements (as described under the Private
Securities Litigation Reform Act of 1995) that involve risks and
uncertainties. Actual results could differ materially from Bel's
projections. Among the factors that could cause actual results to
differ materially from such statements are the difficulties
associated with compiling year-end data from entities throughout
the world and the difficulties associated with assuring that all
data has been calculated accurately. Among the factors that
could cause our projections in general to vary from previously
released results are: the market concerns facing our customers; the
continuing viability of sectors that rely on our products; the
effects of business and economic conditions; difficulties
associated with integrating recently 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; and the risk factors detailed from time to
time in the Company's SEC reports. In light of the risks and
uncertainties impacting our business, there can be no assurance
that any forward-looking statement will in fact prove to be
correct. We undertake no obligation to update or revise any forward
looking statements.
Website Information
We routinely post important information for
investors on our website, www.belfuse.com, in the "Investor
Relations" section. We use our website as a means of disclosing
material, otherwise non-public information and for complying with
our disclosure obligations under Regulation FD. Accordingly,
investors should monitor the Investor Relations section of our
website, in addition to following our press releases, SEC filings,
public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document.
About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad
array of products that power, protect and connect electronic
circuits. These products are primarily used in the
networking, telecommunications, computing, military, aerospace,
transportation and broadcasting industries. 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). The Company operates
facilities around the world.
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Investor Contact:Darrow Associatestel
516.419.9915pseltzberg@darrowir.com |
Company Contact:Daniel
Bernstein President ir@belf.com |
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