Bel Fuse posts 2Q profit, 73 pct revenue increase

JERSEY CITY, N.J.

Bel Fuse Inc., a maker of electronic components, on Friday posted a 73 percent rise in revenue, and a profit for the second quarter, saying demand is strong.

The Jersey City-based company said it earned $4.7 million, or 41 cents per Class B share, compared to a loss of $1.3 million, or 11 cents per share in the same period last year.

Sales were $77.7 million, compared to $44.9 million a year ago.

Bel CEO Daniel Bernstein said gross margins improved with increasing productivity in its Chinese factories. It has added 2,483 workers there this year.

Class B shares of Bel Fuse were up $1.62, or 7.8 percent, to $22.28 in afternoon trading.