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Jun 30, 2020
Bel Fuse Q2 2020 Earnings Report
Bel Fuse Inc. reported preliminary financial results, with improved gross profit margin and operating income.
Key Takeaways
Bel Fuse Inc. reported a decrease in net sales but an increase in gross profit margin and operating income for the second quarter of 2020. The company's focus on profitability and cost reduction efforts contributed to the improved financial results.
Net sales decreased by 4.9% compared to Q2-19, reaching $121.2 million.
Gross profit margin increased to 26.2%, up from 21.0% in Q2-19.
Operating income rose to $7.5 million, compared to $4.5 million in Q2-19.
Net earnings increased to $5.6 million, compared to $3.0 million in Q2-19.
Forward Guidance
Bel's management team will continue to take meaningful steps toward its goal of improved profitability. Further restructuring efforts and related incremental cost savings are expected to continue over the next 18 months as we complete the implementation of the new ERP system which will allow us to more efficiently streamline the organization. Bel will also continue the process of re-evaluating the Company's customer base and product portfolio to ensure our resources are supporting those customers and products that align with the goal of improved profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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