Belden Slips To Q1 Loss, Trims 2015 Outlook - Quick Facts

(RTTNews) - Networking products maker Belden Inc. (BDC) reported that first-quarter net loss was $19.64 million or $0.46 per share, compared to net income of $24.59 million or $0.56 per share in the prior-year quarter, while included $0.01 per share of loss from discontinued operations.

Excluding items, adjusted income from continuing operations was $43.26 million or $1.00 per share, compared to $35.42 million or $0.80 per share in the year-ago quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 12.2 percent to $546.96 million from $487.69 million in the same quarter last year. Adjusted revenue for the quarter totaled $569.45 million, compared to $488.31 million a year ago. Analysts expected revenue of $576.27 million for the quarter.

Looking ahead to the second quarter, the company expects adjusted income from continuing operations in a range of $1.15 to $1.25 per share, on projected adjusted revenues between $605 million and $625 million. Analysts expect the company to report second-quarter earnings of $1.34 per share on quarterly revenue of $625.82 million.

For fiscal 2015, the company now expects adjusted income from continuing operations in the range of $5.28 to $5.48 per share, on projected adjusted revenues between $2.45 billion and $2.50 billion. Street is currently looking for full-year 2015 earnings of $5.43 per share on annual revenue of $2.50 billion.

Previously, the company expected adjusted income from continuing operations in the range of $5.28 to $5.58 per share on adjusted revenues between $2.475 billion and $2.525 billion.