Belden Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Belden Inc. (BDC) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $37.3 million, or $0.90 per share. This compares with $63.2 million, or $1.45 per share, in last year's first quarter.

Excluding items, Belden Inc. reported adjusted earnings of $51.3 million or $1.24 per share for the period.

Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.5% to $535.7 million from $641.8 million last year.

Belden Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $37.3 Mln. vs. $63.2 Mln. last year. -EPS (Q1): $0.90 vs. $1.45 last year. -Revenue (Q1): $535.7 Mln vs. $641.8 Mln last year.

-Guidance: Next quarter EPS guidance: $1.30 - $1.40 Next quarter revenue guidance: $565mln - $580mln