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Bel reports Q1 net earnings, revenue increases to $82.6M

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Jersey City-based Bel Fuse Inc. announced Wednesday preliminary financial results for the first quarter of 2014 that ended on March 31.

According to the announcement, net sales increased 31.1 percent to $82.6 million compared to $63 million in last year’s first quarter.  Net earnings increased to $0.20 per Class A share and $0.22 per Class B share compared to net losses of $0.05 per Class A and Class B share for the same time last year.  The total net earnings for the first quarter were $2.5 million.

Also, Bel recently agreed to acquire Power Solutions business from ABB for $177 million, the company said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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