Belden Q1 Profit Increases, Boosts 2014 Outlook - Quick Facts

(RTTNews) - Belden Inc. (BDC) reported that its first-quarter income from continuing operations grew year-over-year to $25.16 million or $0.57 per share from $22.25 million or $0.49 per share. Net income per share was $0.56, compared to $0.49 last year. Adjusted income from continuing operations was $32.42 million or $0.80 per share for the quarter.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.79 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $487.69 million from $507.47 million in the same quarter last year. Adjusted revenue for the quarter totaled $488.31 million, compared to $510.39 million in the first quarter 2013. Analysts expected revenue of $497.07 million for the quarter.

Looking ahead to the second quarter, the company expects adjusted income from continuing operations in a range of $0.95 to $1.05 per share, on projected adjusted revenues between $585 million and $605 million. Analysts expect the company to report second-quarter earnings of $1.05 per share on quarterly revenue of $605.79 million.

For fiscal 2014, the company now expects adjusted income from continuing operations in the range of $4.05 to $4.35 per share, on projected adjusted revenues between $2.30 billion and $2.35 billion. Street is currently looking for full-year 2014 earnings of $4.17 per share on annual revenue of $2.35 billion.

Previously, the company expected adjusted income from continuing operations in the range of $3.81 to $4.11 per share on adjusted revenues between $2.11 billion and $2.15 billion.