Belden Guides Q2 Revenues Below View; Q1 Results Top Estimates

(RTTNews) - While reporting financial results for the first quarter on Thursday, Belden Inc. (BDC) provided its earnings, adjusted earnings and revenue guidance for the second quarter.

For the second quarter, the company expects earnings in a range of $1.25 to $1.35 per share and adjusted earnings in a range of $1.67 to $1.77 per share on revenues between $645 million and $660 million.

On average, five analysts polled expect the company to report earnings of $1.73 per share on revenues of $664.63 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to Belden stockholders of $51.94 million or $1.27 per share, higher than $37.31 million or $0.90 per share last year. Excluding items, adjusted net income were $1.60 per share, compared to $1.24 per share in the year-ago quarter.

Revenues for the quarter grew 17 percent to $624.86 million from $535.68 million in the same quarter last year. Revenues also increased 11 percent organically.

Analysts expected earnings of $1.49 per share on revenues of $616.14 million for the quarter.

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