Belden: 3Q Earnings Snapshot
ST. LOUIS (AP) _ Belden Inc. (BDC) on Wednesday reported a third-quarter loss of $297 million, after reporting a profit in the same period a year earlier.
The St. Louis-based company said it had a loss of $6.70 per share. Earnings, adjusted for non-recurring costs, came to $1.18 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The communications equipment company posted revenue of $620.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $634 million.
For the current quarter ending in December, Belden expects its per-share earnings to range from $1 to $1.15.
The company expects full-year earnings in the range of $4.32 to $4.47 per share.
Belden shares have climbed 33% since the beginning of the year. The stock has decreased nearly 2% in the last 12 months.