Bel Fuse (BELFB) S-3 Shelf registration

Exhibit 12.1

Statement of Ratios of Earnings to Fixed Charges

	Year ended December 31,
	2013			2012			2011			2010			2009
Earnings:
Earnings (loss) before provision (benefit) for income taxes	$	15,165		$	997		$	7,872		$	15,580		$	(9,695	)
Fixed charges		1,789			1,149			1,100			1,133			733
Total earnings (loss)		16,954			2,146			8,972			16,713			(8,962	)
Fixed Charges:
Interest expense		156			16			-			-			-
Estimate of interest within rental expense		1,633			1,133			1,100			1,133			733
Total fixed charges		1,789			1,149			1,100			1,133			733
Ratio of earnings to fixed charges (a)		10.6	%		53.5	%		12.3	%		6.8	%		-

(a) In 2009, we incurred losses from operations, and as a result, our pre-tax earnings were insufficient to cover our fixed charges by $9.7 million.