This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Belden Issues 2Q Outlook Below Street Estimates

ST. LOUIS (AP) ¿ Belden Inc., an electronics-components maker, said Wednesday its sales and profit for the second-quarter will miss analyst expectations as customers struggle with the effects of the global recession.

The company expects earnings per share, adjusted to exclude one-time items, to range from 25 cents to 30 cents. Analysts polled by Thomson Reuters expect, on average, 33 cents per share.

Belden forecast revenue for the period between $340 million and $350 million. Wall Street expects $390 million in sales.

"While still difficult, we have seen some stabilization in our markets, and we expect our channel partners to continue carefully managing their inventory levels as we jointly work our way through this difficult period," John Stroup, chief executive, said in a statement released by the company.

Belden also said it lost $32.5 million, or 70 cents per share in the first quarter, compared with a profit of $12.9 million, or 27 cents per share, in the year-earlier period.

Excluding one-time items for restructuring, the company posted adjusted earnings per share of 16 cents, beating analysts' target of 10 cents per share.

Revenue dropped to $328.5 million from $511.8 million, and came up shy of Wall Street's expectation of $342.9 million.

In midday trading, shares jumped $1.13, or 7.3 percent, to $16.58.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BDC $62.90 0.88%
AAPL $118.03 -0.71%
FB $105.41 -0.31%
GOOG $748.15 -0.02%
TSLA $229.64 5.22%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs