Bel Fuse (BELFA) Reports Q1 EPS of $0.07

Bel Fuse (NASDAQ: BELFA) reported Q1 EPS of $0.07. Revenue for the quarter came in at $113.7 million, versus $0 reported last year.

First Quarter 2017 Highlights

• Net sales were $113.7 million for the first quarter of 2017, representing a 6.2% decline from $121.2 million in the first quarter of 2016.
• Gross profit margin improved to 20.5% in the first quarter of 2017, up from 19.0% in the first quarter of 2016 due to cost savings realized on prior year restructuring efforts and a more favorable product mix in the first quarter of 2017.
• Net earnings increased to $0.7 million in the first quarter of 2017. This compares to a net loss of $100.7 million in the same period of 2016, which resulted primarily from a $108.6 million impairment charge on goodwill and other intangible assets as further described below.
• Class A earnings per share was $0.05 on a GAAP basis (compared to a net loss per share of $8.15 in the first quarter of 2016) and earnings of $0.07 per share on a Non-GAAP basis (compared to $0.04 in the first quarter of 2016).
• Class B earnings per share was $0.06 on a GAAP basis (compared to a net loss per share of $8.55 in the first quarter of 2016) and earnings of $0.09 per share on a Non-GAAP basis (compared to $0.05 in the first quarter of 2016).

For earnings history and earnings-related data on Bel Fuse (BELFA) click here.

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