BELFB · Bel Fuse Inc.

Bel Fuse Inc. has undertaken a significant strategic transformation by realigning its business structure from product-centric to end-market-centric operations. The company will now operate through two focused business units: Aerospace, Defense & Rugged Solutions (ADRS) and Industrial Technology & Data Solutions (ITDS). This reorganization consolidates previous business units - ADRS incorporates the former Connectivity Solutions and Enercon businesses, while ITDS integrates the pre-Enercon Power Solutions and Protection and Magnetic Solutions units. The strategic shift is designed to deliver holistic solutions that address customers' evolving needs across key end markets, with ADRS serving aerospace, defense, space, oil and gas, and other rugged environment applications, and ITDS focusing on industrial, medical, semiconductor, transportation, and data solutions markets. The company has provided detailed segment financial data showing ADRS generated $368.9 million in revenue (55% of total) with 41.0% gross margin for full year 2025, while ITDS contributed $306.6 million (45% of total) with 37.5% gross margin. Total company revenue increased to $675.5 million in 2025 from $534.8 million in 2024, with gross profit percentage improving to 39.1% from 37.8%. The leadership appointments align with this new structure, bringing industry expertise to drive growth in each focused market segment. The company has retrospectively recast segment information for fiscal 2025 and 2024 to reflect the new reporting structure, providing investors with comparable historical data under the revised segment approach.