JERSEY CITY, N.J. (AP) — JERSEY CITY, N.J. (AP) — Bel Fuse Inc. (BELFA) on Wednesday reported first-quarter profit of $11.4 million.

The Jersey City, New Jersey-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring costs, came to $1.72 per share.

The maker of electronic products for circuits posted revenue of $178.5 million in the period.

Bel Fuse shares have increased 51% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $229.56, more than tripling in the last 12 months.

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