Belden Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Belden Inc. (BDC) announced earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $72.35 million, or $1.70 per share. This compares with $98.29 million, or $2.23 per share, in last year's third quarter.

Excluding items, Belden Inc. reported adjusted earnings of $75.67 million or $1.78 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.5% to $626.81 million from $670.49 million last year.

Belden Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $72.35 Mln. vs. $98.29 Mln. last year. -EPS (Q3): $1.70 vs. $2.23 last year. -Analyst Estimates: $1.76 -Revenue (Q3): $626.81 Mln vs. $670.49 Mln last year.

-Guidance: Next quarter EPS guidance: $1.05 - $1.20 Next quarter revenue guidance: $510 mln - $530 mln