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Article: Bel Reports First Quarter Results; Net Income Is $0.16 Per Diluted Share Versus A Loss of $0.17 Per Share; Revenue Increases to $24.9 Million From $16.5 Million.
- Article from:
- Business Wire
- Article date:
- April 29, 2003
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Business Editors
JERSEY CITY, N.J.--(BUSINESS WIRE)--April 29, 2003
Bel Fuse Inc. (Nasdaq:BELFA)(Nasdaq:BELFB) today announced preliminary unaudited results for the first quarter ended March 31, 2003.
Net income for the first quarter increased to $1,780,000, or $0.16 per diluted share. This compares to a net loss for the first quarter of 2002 of $1,821,000, or $0.17 per share. Revenue increased 51% to $24,947,000 for this year's first quarter from $16,514,000 for the first quarter of 2002.
Effective March 22, 2003, Bel completed the acquisition of the Passive Components Group from Insilco Technologies, Inc., which included the net ...