Belden Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Belden Inc. (BDC) reported 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 $53.69 million, or $1.30 per share. This compares with $72.35 million, or $1.70 per share, in last year's third quarter.

Excluding items, Belden Inc. reported adjusted earnings of $70.57 million or $1.70 per share for the period.

Analysts on average had expected the company to earn $1.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.5% to $654.93 million from $626.81 million last year.

Belden Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $53.69 Mln. vs. $72.35 Mln. last year. -EPS (Q3): $1.30 vs. $1.70 last year. -Revenue (Q3): $654.93 Mln vs. $626.81 Mln last year.

-Guidance: Next quarter EPS guidance: $1.62 - $1.72 Next quarter revenue guidance: $645 - $660 Mln