Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today reported fiscal fourth quarter and full year 2012 results for the period ended December 31, 2012.
Fourth Quarter 2012
Revenue for the quarter totaled $477.7 million, up $36.4 million, or 8.2%, compared to $441.3 million in the fourth quarter 2011. Income from continuing operations per diluted share totaled $0.88, compared to $0.48 in the fourth quarter 2011, a year-over-year increase of 83.3%. A non-GAAP reconciliation table is provided as an appendix to this release.
Adjusted revenue for the quarter totaled $481.2 million, up $39.9 million, or 9.0%, compared to $441.3 million in the fourth quarter 2011. Adjusted income from continuing operations per diluted share totaled $0.78, compared to $0.63 in the fourth quarter 2011. The effective tax rate for the quarter was less than the 27.0% rate estimated in the Company’s previous guidance due to the recognition of favorable discrete tax items, which had a positive impact of $0.10 per diluted share.John Stroup, President and CEO of Belden Inc., said, “Our performance in the fourth quarter was consistent with trends experienced all year; strength in industrial end-markets was offset by weaker enterprise demand. I’m pleased with the progress we’ve made on expanding margins in a challenged macroeconomic environment and believe we’re well positioned going forward.” Full Year 2012 Revenue for the year totaled $1.84 billion, down $40 million, or 2.2%, compared to $1.88 billion in the full year 2011. Consolidated net income per diluted share totaled $4.23, compared to $2.38 in the full year 2011. This includes a gain from the disposal of discontinued operations. Adjusted revenue for the year totaled $1.85 billion, down $30 million, or 1.9%, compared to $1.88 billion in 2011. Adjusted operating income totaled $205 million or 11.1% of adjusted revenue for the year, compared to $186 million or 9.9% of revenue in 2011. Adjusted income from continuing operations per diluted share totaled $2.80 for the year, compared to $2.40 in 2011, a 16.7% increase.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV