Belden Q3 Adj. Profit Tops View

(RTTNews) - Belden Inc. (BDC), a maker of transmission equipment for broadcasting, Wednesday reported third-quarter net earnings of $33.8 million or $0.77 per share, up from $29.1 million or $0.65 per share a year earlier.

Excluding certain items, earnings totaled $50.4 million or $1.15 per share, compared with $42.4 million or $0.95 per share a year ago. On average, eight analysts polled by Thomson-Reuters estimated the company's earnings to be $1.12 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues rose to $610.77 million, from $522.48 million in the corresponding period last year. Analysts expected revenues of $617.96 million.

Looking ahead, the company expects fourth quarter GAAP income from continuing operations in the range of $0.55 to $0.65 per share and revenues of $588 million to $608 million. The company expects adjusted earnings of $1.15 to $1.25 per share from continuing operations and revenues of $590 million to $610 million.

Analysts expect fourth-quarter earnings of $1.24 per share on revenues of $626.50 million.

For the full-year, Belden now expects income from continuing operations per share to be in the range of $1.90 to $2.00 and revenue in the range of $2.29 billion to $2.31 billion. Previously, the Company expected full year income from continuing operations per share to be $1.68 to $1.88 and revenues to be $2.28 billion to $2.33 billion.

The company now expects full year 2014 adjusted earnings of $4.15 to $4.25 per share from continuing operations on revenues of $2.30 billion to $2.32 billion. Earlier, the company expected adjusted earnings of $4.10 to $4.30 per share from continuing operations on revenues of $2.30 billion to $2.35 billion.

Analysts now expect annual earnings of $4.21 per share on revenues of $2.34 billion.