On Friday, Belden Inc. (NYSE: BDC) shares price traded between $62.13 and $63.59 during the last trading session upbeat/downbeat with -0.45% at $62.46. The shares recorded a trading volume 226,802 shares as compared to its average volume of 356,304 shares. The company has 40.64M shares outstanding and market value of 2.538B. Over the one year trading period, the stock has a peak price of $87.15 and its down is recorded at $53.65.
Belden Inc. (BDC) recently stated fiscal second quarter 2018 results for the period ended July 1, 2018.
Second Quarter 2018
On a GAAP basis, revenues for the quarter totaled $668.6M, increasing $58.0M, or 9.5%, contrast to $610.6M in the second quarter 2017. Net income was $28.9M, a decrease of $7.1M from the prior-year period. Net income included after-tax restructuring and acquisition integration costs of $18.8M, primarily related to the acquisition of Snell Advanced Media (“SAM”), which was completed during the first quarter 2018. Net income as a percentage of revenues was 4.3% contrast to 5.9% in the prior-year period. EPS was $0.49 contrast to $0.64 in the second quarter 2017.
Adjusted revenues for the quarter totaled $671.4M, increasing $60.8M, or 10.0%, contrast to $610.6M in the second quarter 2017. Adjusted EBITDA margin in the second quarter was 18.3%, consistent with the year-before period. Adjusted EPS was $1.52 contrast to $1.29 in the second quarter 2017. Adjusted results are non-GAAP measures, and a non-GAAP reconciliation table is provided as an appendix to this release.
John Stroup, President, CEO, and Chairman of Belden Inc., stated, “Second quarter revenues and EPS were above our guided ranges. I am extremely happy to report record quarterly revenues that exceeded our long-term growth goal and robust adjusted earnings growth.”
“We expect improved organic growth, solid margin expansion, and double-digit EPS growth in the second half of the year. We are on track to meet our commitments for the full year 2018, and we are well-positioned for success longer term,” stated Mr. Stroup.
On a GAAP basis, the Company expects third quarter 2018 revenues to be $667 – $687M and EPS to be $1.73 – $1.83. For the full year ending December 31, 2018, the Company now expects revenues to be $2.633 – $2.663B, contrast to previous guidance of $2.623 – $2.673B, and EPS to be $3.52 – $3.72, contrast to previous guidance of $2.44 – $2.69.
The Company expects third quarter 2018 adjusted revenues to be $670 – $690M and adjusted EPS to be $1.65 – $1.75. For the full year ending December 31, 2018, the Company now expects adjusted revenues to be $2.643 – $2.673B, contrast to previous guidance of $2.633 – $2.683B, and adjusted EPS to be $6.28 – $6.48, contrast to previous guidance of $6.23 – $6.48.
EPS growth in past five years was 16.70% while EPS growth in next five years is projected to arrive at 10.16%. Sales growth past 5 years was measured at 5.30%. EPS growth for this year is -23.20% and EPS growth for next year is expected to reach at 7.42%. Belden Inc. designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions sections.