Bel Fuse ( (BELFA) ) has issued an update.
Bel Fuse Inc. announced the adoption of an Israeli Appendix to its 2020 Equity Compensation Plan, following its acquisition of 80% of Enercon Technologies Ltd. in November 2024. This appendix aims to facilitate participation by Israeli employees and service providers in the plan, ensuring compliance with Israeli tax laws. Additionally, Bel reported its fourth quarter and full year 2024 financial results, highlighting net sales of $534.8 million for 2024, a decrease from the previous year. Despite a challenging environment, the company achieved a strong gross profit margin, supported by its acquisition of Enercon, which is set to enhance Bel’s market position in aerospace and defense. The company is optimistic about 2025, focusing on growth initiatives and organizational efficiency.
More about Bel Fuse
Bel Fuse Inc. designs, manufactures, and markets a wide range of products that power, protect, and connect electronic circuits. These products are used in industries such as networking, telecommunications, computing, general industrial, high-speed data transmission, defense, commercial aerospace, transportation, and eMobility. Bel’s product groups include Power Solutions and Protection, Connectivity Solutions, and Magnetic Solutions. The company operates facilities worldwide.
YTD Price Performance: -9.84%
Average Trading Volume: 9,735
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.03B
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