Bel Fuse Q1 2022 Earnings Report

Reported strong Q1 2022 results with continued top line growth and margin improvement.

Key Takeaways

Bel Fuse Inc. announced strong preliminary financial results for the first quarter of 2022, marked by a 23.6% increase in net sales compared to Q1 2021 and an improved gross profit margin. The company's performance was driven by exceptional results across all three business units and strong demand, leading to a build-up of order backlog.

Net sales reached $136.7 million, a 23.6% increase from Q1 2021.

Gross profit margin improved to 25.0% from 21.9% in Q1 2021.

Circuit protection sales more than doubled compared to Q1 2021, exceeding $8 million.

Magnetic Solutions group showed substantial gross margin improvement, rising from 13.7% to 20.1%.

Previous year: -$0.23

-278.3%