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Belden Announces Acquisition Of PPC For $515.7 Million And Reaffirms Fourth Quarter And Full Year 2012 Revenue And EPS Guidance

Stocks in this article: BDC

Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission-critical applications, today announced it has acquired privately held PPC, a leading provider of broadband connectivity solutions headquartered in Syracuse, New York, for $515.7 million. A full discussion, including strategic rationale and potential impact to 2013 results, will be provided during Belden’s Investor Day event, being held today at 1:00 p.m. ET. A live webcast and replay of the entire event can be accessed at http://investor.belden.com.

Highlights

  • Combined company will be a leader in broadband connectivity;
  • The acquisition significantly enhances Belden’s Broadcast Solutions platform and increases exposure to attractive end markets;
  • With operating margins above 22%, this transaction is accretive to Belden’s consolidated operating results; and
  • Accretive to adjusted earnings per share in 2013 by $0.54.

PPC, with 2012 revenues of approximately $238 million, is a leading manufacturer and developer of advanced connectivity technologies for the broadband service provider market. PPC has a long history of innovation and an industry leading portfolio of products, supported by a talented team, and strong customer relationships.

“This acquisition is a wonderful example of our business transformation and highlights our strategic focus on building global business platforms with strong financial attributes, serving attractive end markets,” said John Stroup, President and CEO of Belden. “PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls. Belden and PPC will provide unique end-to-end solutions for these customers, and I am excited about the opportunity ahead of us.”

Additionally, the Company will reiterate its current EPS guidance for the fourth quarter and full year ending December 31, 2012 during its regularly scheduled Investor Day event beginning at 1:00 p.m. ET today. The Company expects revenue to be $500 to $510 million for the fourth quarter and $1.94 to $1.95 billion for the full year ending December 31. The Company also expects adjusted income from continuing operations per diluted share to be $0.72 to $0.77 for the fourth quarter and $3.00 to $3.05 for the full year ending December 31.

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