Belden: 2Q Earnings Snapshot
Aug. 01, 2018
ST. LOUIS (AP) _ Belden Inc. (BDC) on Wednesday reported second-quarter profit of $28.9 million.
The St. Louis-based company said it had net income of 49 cents per share. Earnings, adjusted for one-time gains and costs, were $1.52 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The communications equipment company posted revenue of $668.6 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $662.7 million.
For the current quarter ending in October, Belden expects its per-share earnings to range from $1.65 to $1.75.
The company said it expects revenue in the range of $667 million to $687 million for the fiscal third quarter.
Belden expects full-year earnings in the range of $6.28 to $6.48 per share, with revenue expected to be $2.63 billion.
Belden shares have dropped 16 percent since the beginning of the year. The stock has declined 10 percent in the last 12 months.