Bel Fuse, the American manufacturer of network and power components, closed off the first quarter 2005 with a turnover of 45.4 M US$ and a profit of 4.3 M US$. Compared to the same quarter of the previous year, the turnover increased by 7 % but the plus decreased by 8 %. In March 2005, the company completed the takeover of Galaxy Power. No progress was made with regards to the desired takeover of Artesyn.