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Article: Bel Reports 2009 Second Quarter Results.(Financial report)
- Article from:
- Investment Weekly News
- Article date:
- August 15, 2009
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Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced preliminary unaudited financial results for the second quarter and first six months of 2009. Second Quarter Results Net sales for the three months ended June 30, 2009 decreased to $44,934,000 compared to $72,454,000 for the second quarter of 2008. The net loss for the second quarter of 2009 was $1,272,000. This compares to net earnings for the second quarter of 2008 of $1,811,000.
The $2.9 million loss from operations for the second quarter of 2009 was affected by $1.6 million ($1.0 million or $0.08 per share after tax) in severance and other one-time charges. Labor inefficiencies and moving expenses for the ...