Bel Fuse Inc. Reports Strong First Quarter with Net Income of $14.6 Million
Q1 Revenue Reaches $172.3 Million, Significantly Outpacing Previous Year
By USInMinutes
Published - Jul 31, 2023, 12:41 PM ET
Last Updated - Jul 31, 2023, 12:41 PM EDT
Bel Fuse Inc.(BELFA) and its subsidiarie s have released their unaudited financial statements for the first quarter ended March 31, 2023. The company's performance during this period has been notable, with both net income and revenue exhibiting significant growth compared to the same quarter last year.
Net Income
Bel Fuse Inc. achieved impressive financial results in the first quarter of 2023, reporting a net income of $14.6 million. This represents a substantial increase compared to the net income of $5.1 million reported during the corresponding period in 2022. The remarkable growth in net income reflects the company's continued efforts to improve operational efficiency and optimize its product portfolio.
Revenue
