Gross ProfitGross profit margin decreased to 24.2%, from 24.5% in the first quarter of 2019, primarily due to the lower sales base in the first quarter of 2020, resulting in lower fixed cost absorption within cost of sales. Included within SG&A expenses is a loss on the cash surrender value of company-owned life insurance (COLI) policies of $2.0 million in the first quarter of 2020 compared to a gain on these policies of $1.0 million in the first quarter of 2019. In addition to the effects from such deferred shipments, the Company also incurred additional indirect COVID-19 related costs, including operational inefficiencies and employee retention programs in the quarter. Forward-Looking StatementsNon-historical information contained in this press release (including the statements regarding positive signs in Bel’s underlying business, the placement of replenishment orders and the anticipated improvement in sales and financial results in the second quarter of 2020 as compared to the first quarter of 2020) are forward-looking statements (as described under the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Connected Real Estate Summit June 22-25, 2021. Financial Highlights of Q2 2021 result are: Revenue: Dell was able generate revenue of $21,897 million Q1 2021, compared to $21,908 million generated in Q1 2020. Q3 2019 Press Release 93.9 KB. The financial impact of the extended Lunar New Year holiday and other operational inefficiencies at our facilities in Asia related to COVID-19 was largely offset by $2.2 million of stimulus funding received from the Chinese government during the first quarter of 2020 associated with COVID-19 relief programs. TORONTO, May 12, 2020 /CNW/ - Today, Park Lawn Corporation (TSX:PLC.TO - News) ("PLC" or the "Company") announced its results for the first quarter ("Q1") ended March 31, 2020.The results show strong revenue growth, with an increase of 47.5% as compared to the same period in 2019. Non-GAAP Financial MeasuresThe Non-GAAP measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America ("GAAP"). The financial impact of the extended Lunar New Year holiday and other operational inefficiencies at our facilities in Asia related to COVID-19 was largely offset by $2.2 million of stimulus funding received from the Chinese government during the first quarter of 2020 associated with COVID-19 relief programs. Net sales of $104.0 million, down 17.1% from Q1-19, Gross profit margin of 24.2%, down from 24.5% in Q1-19, Net loss of $3.8 million, as compared with net earnings of $1.1 million in Q1-19, CUI acquisition in December 2019 contributed $8.2 million to Q1-20 sales at a gross profit margin of 36.8%, Backlog of $191.2 million at March 31, 2020, up 19% from year-end, Cash flow provided by operating activities of $8.1 million. Q1 2020 Financial Results. Net SalesNet sales were $104.0 million, down $21.4 million, or 17.1%, from last year’s first quarter. Certain statements in this document concern prognoses about the future financial condition, risks, investment plans, and the results of operations of Randstad N.V. and its operating companies, as well as certain plans and objectives. (3) Individual amounts of earnings per share may not agree to the total due to rounding. In comparison, as of December 31, 2019, working capital was $193.0 million, including $72.3 million of cash and cash equivalents with a current ratio of 3.1-to-1. May 01, 2020 07: 30 ET | Source: Bel Fuse Inc. JERSEY CITY, N.J., May 01, 2020 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer and provider of products that November 11, 2020 Heraklion (Crête) M15 (02/11/2020) - (08/11/2020) Q1 : Zizou Bergs (n°2) - Peter Bertran (DOM, 816) 6/0 6/3 : Q2 : Zizou Bergs (n°2) - Tom Hands (GBR, 1371) 6/2 6/1 : Q3 : Fabian Marozsan (HUN, 531, n°9) - Zizou Bergs (n°2) 6/2 4/2 abandon : Tournois nationaux. The Company operates facilities around the world. Fiera Capital Corporation (FRRPF) CEO Jean-Guy Desjardins on Q3 2020 Results - Earnings Call Transcript. Net SalesNet sales were $104.0 million, down $21.4 million, or 17.1%, from last year’s first quarter. Actual results could differ materially from Bel’s projections. Income TaxesThe provision (benefit) for income taxes was $(0.8) million in the first quarter of 2020, compared to less than $0.1 million in the same period of 2019. Please refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. Non-GAAP financial measures, such as Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA, exclude the impact of acquisition-related costs and restructuring charges. I want to extend a sincere thank you to the manufacturing associates in each of Bel's factories around the world who continue to come to work each day with courage and dedication to our Company and our customers. Net (Loss) EarningsThe above factors resulted in net loss of $(3.8) million in the first quarter of 2020 as compared with net earnings of $1.1 million in the first quarter of 2019. However, beyond the second quarter, we have limited visibility due to the evolving COVID-19 environment.” concluded Mr. Bernstein. The majority of the products manufactured by Bel are utilized in military, medical and networking applications, and are therefore deemed essential by the various jurisdictions in which we operate. This led to a portion of scheduled shipments being deferred to the second quarter, and cost approximately $14-$17 million in first quarter sales. By product segment: Connectivity Solutions sales declined by 11.9%, Magnetic Solutions sales were lower by 24.8% and Power Solutions and Protection sales were down by 15.6%. Non-GAAP Financial MeasuresThe Non-GAAP measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America (“GAAP”). We use our website as a means of disclosing material, otherwise non-public information and for complying with our disclosure obligations under Regulation FD. Second Quarter. Bel Reports First Quarter 2020 Results. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net (loss) earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. The foreign exchange effect positively impacted consolidated sales by €8 million, or 0.5%. “Our first quarter financial results reflect the extended closure of our facilities in China earlier in the quarter due to the outbreak of COVID-19 and the related impact to our supply chain. 09.11.2020. Gross Profit: Gross Profit earned by the company in Q1 2021 was $6,853 million, down by 1% from $6,797 million in Q1 2020.   PO Box 967 Merrimack, NH 03054   |. We undertake no obligation to update or revise any forward looking statements. Randstad N.V. 21 July 2020 | disclaimer. We have implemented significant protective measures throughout our facilities, including travel and visitor restrictions, work from home policies, employee screenings, social distancing and use of face coverings as we continue to service our customers. ET today. Fourth Quarter. (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP net (loss) earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. This resulted in an effective tax rate of 16.9% during the first quarter of 2020, compared to an effective tax rate of 3.3% during the same quarter last year. ITEXPO June 22-25, 2021. However, beyond the second quarter, we have limited visibility due to the evolving COVID-19 environment.” concluded Mr. Bernstein. Daniel Bernstein, President and CEO, said, “Our focus during much of the first quarter has been on the continued safety and well-being of our associates around the world in light of COVID-19. To participate in the conference call, investors should dial 888-394-8218, or 323-794-2590 if dialing internationally. Our Non-GAAP measures may not be comparable to other similarly-titled captions of other companies due to differences in the method of calculation. CUI bookings during the first quarter were over $11 million, one of their highest booking quarters in history, which was a contributing factor to Bel's consolidated book-to-bill ratio of 1.3 for the first quarter. Net (Loss) EarningsThe above factors resulted in net loss of $(3.8) million in the first quarter of 2020 as compared with net earnings of $1.1 million in the first quarter of 2019. By geographic area: Europe sales were down by 22.3%, North America sales declined by 7.8% and Asia sales were lower by 29.8%. Find result date. Unaudited Financial Results for the Qtr ended on 30th June 2020 Size: 4.70 MB. Bel Fuse's (BELFB) CEO Dan Bernstein on Q1 2020 Results - Earnings Call Transcript Fri, May 1 • 2 Comments Bel Fuse's (BELFB) CEO Dan Bernstein on Q4 2019 Results - Earnings Call Transcript (1) The supplementary information included in this press release for 2020 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. Shares of Bel Fuse (NASDAQ:BELFA) remained unaffected at $7.11 after the company reported Q1 results. About BelBel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. In light of the risks and uncertainties impacting our business, there can be no assurance that any forward-looking statement will in fact prove to be correct. Please refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures. Résultats du 1er semestre 2019 25/07/2019 - Une croissance du chiffre d’affaires de 1,9% bénéficiant d’un effet de change favorable - Un résultat opérationnel tiré par les Marchés matures du Groupe The effective tax rate for the first quarter of 2020 reflects a reduction in GILTI tax as compared to the same quarter of 2019, as well as tax benefits recognized from federal legislation (the CARES Act) and adjustments to valuation allowances in the first quarter of 2020. The Company operates facilities around the world. Excluding the effects of market fluctuations of our COLI policies, SG&A expense was largely the same in the first quarter of 2020 as compared to the same period of 2019, as incremental SG&A expense from the recently acquired CUI business were offset by lower travel expense and other cost containment efforts. SA Transcripts. Operating (Loss) IncomeOperating (loss) income was $(3.1) million, down from $3.4 million in the first quarter of 2019, with an operating margin of -3.0% compared to 2.7% in the first quarter of 2019. About BelBel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. Selling, General and Administrative Expenses (SG&A)SG&A expenses were $22.1 million, up $2.8 million from the first quarter of 2019. While this remains a fluid situation that evolves daily, as of today, we are pleased to report that all of our manufacturing sites are operating, with the majority of them at or near normal production rates. Required fields are marked *, The Diplomat Beach Resort Hollywood, Curio Collection by Hilton, Walt Disney World Swan and Dolphin Resort, © 2003 - 2020 Virtual-Strategy Magazine   | Find the inventory of Forthcoming results calendar of various Companies. These costs were partially offset by COVID-19 relief funding received from the Chinese government during the quarter. Forward-Looking StatementsNon-historical information contained in this press release (including the statements regarding positive signs in Bel's underlying business, the placement of replenishment orders and the anticipated improvement in sales and financial results in the second quarter of 2020 as compared to the first quarter of 2020) are forward-looking statements (as described under the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. We undertake no obligation to update or revise any forward looking statements. Bel Fuse's (BELFB) CEO Dan Bernstein on Q1 2020 Results - Earnings Call Transcript GlobeNewsWire - 10 months ago Bel Fuse Inc. Earnings per share decreased 240.00% year … We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. Balance Sheet DataAs of March 31, 2020, working capital was $188.2 million, including $68.4 million of cash and cash equivalents with a current ratio of 3.5-to-1. Industrial IoT Conference June 22-25, 2021. Certain statements in this document concern prognoses about the future financial condition, risks, investment plans, and the results of operations of Randstad N.V. and its operating companies, as well as certain plans and objectives. This resulted in an effective tax rate of 16.9% during the first quarter of 2020, compared to an effective tax rate of 3.3% during the same quarter last year. Open Source World June 22-25, 2021 . Your email address will not be published. Among the factors that could cause actual results to differ materially from such statements are: the market concerns facing our customers; the continuing viability of sectors that rely on our products; the impact of public health crises (such as the governmental, social and economic effects of COVID-19); the effects of business and economic conditions; difficulties associated with integrating previously acquired companies; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; risks associated with foreign currencies; uncertainties associated with legal proceedings; the market’s acceptance of the Company’s new products and competitive responses to those new products; the impact of changes to U.S. trade and tariff policies; and the risk factors detailed from time to time in the Company’s SEC reports. Q2 2019 Press Release 87 KB. The webcast will be available via replay for a period of 20 days at this same Internet address. Bel's product groups include Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components), Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), and Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies). This resulted in an effective tax rate of 16.9% during the first quarter of 2020, compared to an effective tax rate of 3.3% during the same quarter last year. Employee representatives will be consulted on any implications for employees from the strategic review of part of the Client Solutions business, and on potential divestment projects before any decision is made. 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