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Article: Bel First Quarter Net Earnings Up 69% to $.68 Per Share As Sales Increase 29% to $33,704,000.
- Article from:
- Business Wire
- Article date:
- April 24, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
JERSEY CITY, N.J.--(BUSINESS WIRE)--April 24, 2001
Bel Fuse Inc. (Nasdaq:BELFA) (Nasdaq:BELFB) today announced record results for the first quarter ended March 31, 2001.
Net earnings increased 69% to a first quarter record $7,577,000, or $.68 per diluted share, compared to $4,472,000, or $.41 per diluted share, last year. Sales increased 29% to a first quarter record $33,704,000 compared to $26,133,000 for last year's first quarter.
Daniel Bernstein, Bel's president, said, "Despite our strong results in the first quarter, we are mindful that several of our customers are facing difficult market conditions. Some customers ...