BUSINESS SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2014

BUSINESS SEGMENT INFORMATION [Abstract]

BUSINESS SEGMENT INFORMATION

7. BUSINESS SEGMENT INFORMATION

The Company operates in one industry with three reportable operating segments, which are geographic in nature.  The segments consist of North America, Asia and Europe.  The primary criteria by which financial performance is evaluated and resources are allocated are sales and income from operations.  The following is a summary of key financial data (dollars in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Total segment sales:
North America	$	91,556		$	34,273		$	162,415		$	95,796
Asia		87,714			69,602			199,574			166,362
Europe		44,778			9,313			72,220			30,029
Total segment sales		224,048			113,188			434,209			292,187
Reconciling item:
Intersegment sales		(67,707	)		(12,024	)		(95,783	)		(34,014	)
Net sales	$	156,341		$	101,164		$	338,426		$	258,173
Income from operations:
North America	$	(1,964	)	$	(239	)	$	(2,698	)	$	(3,734	)
Asia		3,306			7,915			9,694			11,026
Europe		3,330			56			4,271			672
	$	4,672		$	7,732		$	11,267		$	7,964
	September 30,			December 31,
		2014			2013
Total Assets:
North America	$	205,463		$	117,261
Asia		243,753			148,780
Europe		81,642			42,100
		530,858			308,141
Unallocated Goodwill		112,629			-
	$	643,487		$	308,141

Recent Acquisitions – At September 30, 2014, Power Solutions' total assets of $206.7 million and Connectivity Solutions' total assets of $136.9 million are included in the table above.

The acquisitions of TRP in March 2013, Array in August 2013, Power Solutions in June 2014 and Connectivity Solutions in July and August 2014 contributed to Bel's segment sales, income from operations and total assets as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Sales to External Customers:
North America:
Array	$	1,758		$	811		$	5,302		$	811
Power Solutions		36,517			-			41,554			-
Connectivity Solutions		11,941			-			11,941			-
		50,216			811			58,797			811
Asia:
TRP		18,228			25,096			51,060			46,885
Power Solutions		1,600			-			1,958			-
Connectivity Solutions		749			-			749			-
		20,577			25,096			53,767			46,885
Europe:
TRP		727			494			1,912			886
Power Solutions		10,963			-			12,802			-
Connectivity Solutions		1,295			-			1,295			-
		12,985			494			16,009			886
Net sales from 2013-2014 acquisitions		83,778			26,401			128,573			48,582
Income from operations:
North America:
Array		(61	)		(135	)		(744	)		(135	)
Power Solutions		1,072			-			(53	)		-
Connectivity Solutions		(1,299	)		-			(1,299	)		-
		(288	)		(135	)		(2,096	)		(135	)
Asia:
TRP		4,200			4,527			9,311			8,115
Power Solutions		(3,201	)		-			(3,363	)		-
Connectivity Solutions		112			-			112			-
		1,111			4,527			6,060			8,115
Europe:
TRP		115			92			343			196
Power Solutions		2,726			-			3,024			-
Connectivity Solutions		73			-			73			-
		2,914			92			3,440			196
Total income from operations from
2013-2014 acquisitions	$	3,737		$	4,484		$	7,404		$	8,176

Segment Sales – Segment sales are attributed to individual segments based on the geographic source of the billing for such customer sales.  Transfers between geographic areas include finished products and semi-finished components manufactured in any one of the geographic segments and transferred to any of the other geographic segments for sale or further processing. Income from operations represents net sales less operating costs and expenses.