- Sales for the first quarter of 2012 decreased 8.2% to $65.6 million compared to $71.4 million for the first quarter of 2011.
- GAAP net earnings for the first quarter of 2012 were $876,000, or $0.07 per diluted Class A share and $0.08 per diluted Class B share.
- Excluding certain charges detailed in the table reconciling GAAP to non-GAAP financial measures attached to this release, non-GAAP net earnings for the first quarter of 2012 were $1.1 million, or $0.09 per diluted Class A share and $0.10 per diluted Class B share.
- Cash and investments were $91.9 million as of March 31, 2012.
- Bel completed the acquisition of GigaCom Interconnect AB, a supplier of expanded beam fiber optic technology for aerospace markets.
- Bel launched a program to streamline operations that is expected to save $4.2 million annually once fully implemented later this year.
Bel Reports First Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.