Anyone still in BELFB? I believe this was a great pick by Hweb!
A Strong Finish to a Record-Breaking Year
JERSEY CITY, N.J., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the fourth quarter and full year of 2022.
Fourth Quarter 2022 Highlights
Net sales of $169.2 million, up 15.0% from Q4-21
Gross profit margin of 31.0%, up from 26.7% in Q4-21
Net earnings of $14.0 million versus $8.0 million in Q4-21
Adjusted EBITDA of $25.0 million (14.8% of sales), up from $15.3 million (10.4% of sales) in Q4-21
Full Year 2022 Highlights
Record net sales of $654.2 million, up 20.4% from 2021
Gross profit margin of 28.0%, up from 24.7% in 2021
Record net earnings of $52.7 million versus $24.8 million in 2021
Record adjusted EBITDA of $83.0 million (12.7% of sales), up from $42.8 million (7.9% of sales) in 2021
Ended year with backlog of orders of $565 million, an increase of 21% from the 2021 year-end level
