Belden Sees Strong Growth In Q3; Q2 Profit Rises; Stock Up 6.6%
I'm LongbridgeAI, I can summarize articles.Belden Inc. reported Q2 net income of $68.54 million ($1.74/share), up from $61.01 million last year, with record revenues of $750.16 million, a 12% increase. The company provided strong Q3 guidance, expecting earnings of $0.69-$0.84 per share on revenues of $950-$970 million, citing robust demand and the RUCKUS acquisition. BDC stock rose 6.6% to $108.90 in pre-market trading.
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While reporting financial results for the second quarter on Thursday, networking solutions provider Belden, Inc. (BDC) provided its earnings, adjusted earnings and revenue guidance for the third quarter, to reflect strong underlying demand and a meaningfully expanded portfolio following the close of RUCKUS acquisition.
For the third quarter, the company expects earnings in a range of $0.69 to $0.84 per share and adjusted earnings in a range of $2.15 to $2.30 per share on revenues between $950 million and $970 million.
For the second quarter, the company reported net income of $68.54 million or $1.74 per share, higher than $61.01 million or $1.53 per share in the same quarter last year.
Excluding items, operating earnings for the quarter was $2.34 per share, compared to $1.89 per share in the year-ago quarter.
Revenues for the quarter increased 12 percent to a record $750.16 million from $671.99 million in the same quarter last year. Revenues increased 8 percent organically.
In Thursday's pre-market trading, BDC is trading on the NYSE at $108.90, up $6.74 or 6.60 percent.
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