The terms the "Company," "Bel," "we," "us," and "our" as used in this Annual Report on Form 10-K (this "Form 10-K"or this "Annual Report on Form 10-K") refer to Bel Fuse Inc. and its consolidated subsidiaries unless otherwise specified.
The Company's consolidated operating results are affected by a wide variety of factors that could materially and adversely affect revenues and profitability, including the risk factors described in Item 1A of this Form 10-K, and the risk factors described in our other reports and documents filed from time to time with the Securities and Exchange Commission ("SEC"). As a result of these and other factors, the Company may experience material fluctuations in future operating results on a quarterly or annual basis, which could materially and adversely affect its business, consolidated financial condition, operating results, and common stock prices. Furthermore, this document and other reports and documents filed by the Company with the SEC contain certain forward-looking statements under the Private Securities Litigation Reform Act of 1995 ("Forward-Looking Statements") with respect to the business of the Company. Forward-Looking Statements are necessarily subject to risks and uncertainties, many of which are outside our control, that could cause actual results to differ materially from these statements. Forward-Looking Statements can be identified by such words as "anticipates," "believes," "plan," "assumes," "forecasts," "could," "should," "estimates," "expects," "intends," "potential," "seek," "predict," "may," "will" and similar references to future periods. All statements other than statements of historical facts included in this report regarding our strategies, prospects, financial condition, operations, costs, plans and objectives and regarding the anticipated impact of COVID-19 ("COVID") are Forward-Looking Statements.
These Forward-Looking Statements are subject to certain risks and uncertainties, including those detailed in Item 1A of this Form 10-K, and the risk factors described in our other reports and documents filed from time to time with the SEC, which could cause actual results to differ materially from these Forward-Looking Statements. Any Forward-Looking Statements are qualified in the entirety by reference to such risk factors discussed throughout this Form 10-K and as described in our other reports and documents filed from time to time with the SEC. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or projections contained in the Forward-Looking Statements include but are not limited to:
| ● | the market concerns facing our customers, and risks for the Company’s business in the event of the loss of certain substantial customers; |
| ● | the continuing viability of sectors that rely on our products; |
| ● | the effects of business and economic conditions, and challenges impacting the macroeconomic environment generally and/or our industry in particular; |
| ● | the effects of rising input costs, and cost changes generally, including the potential impact and effects of inflationary pressures; |
| ● | difficulties associated with integrating previously acquired companies; |
| ● | capacity and supply constraints or difficulties, including supply chain constraints or other challenges; |
| ● | the impact of public health crises (such as the governmental, social and economic effects of COVID or other future epidemics or pandemics); |
| ● | difficulties associated with the availability of labor, and the risks of any labor unrest or labor shortages; |
| ● | risks associated with our international operations, including our substantial manufacturing operations in the People's Republic of China (the "PRC"); |
| ● | risks associated with restructuring programs or other strategic initiatives, including any difficulties in implementation or realization of the expected benefits or cost savings; |
| ● | product development, commercialization or technological difficulties; |
| ● | the regulatory and trade environment; |
| ● | risks associated with fluctuations in foreign currency exchange rates and interest rates; |
| ● | uncertainties associated with legal proceedings; |
| ● | the market's acceptance of the Company's new products and competitive responses to those new products; and |
| ● | the impact of changes to U.S. and applicable foreign legal and regulatory requirements, including tax laws, trade and tariff policies. |
The foregoing list sets forth some, but not all, of the factors that could affect our ability to achieve results described in any Forward-Looking Statements, which speak only as of the date of this Form 10-K or the date of the document incorporated by reference into this report. Except as required by law, we assume no obligation and expressly disclaim any duty to publicly release the results of any revisions to these Forward-Looking Statements or otherwise update any Forward-Looking Statement to reflect events or circumstances after the date of this Form 10-K or to reflect the occurrence of unanticipated events. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any Forward-Looking Statements contained in this Form 10-K. Any Forward-Looking Statement made by the Company is based only on information currently available to us and speaks only as of the date on which it is made. All Forward-Looking Statements are expressly qualified in their entirety by the cautionary statements contained in this section.
PART I
