ST. LOUIS (AP) — ST. LOUIS (AP) — Belden Inc. (BDC) on Wednesday reported fourth-quarter net income of $62 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the St. Louis-based company said it had net income of $1.42. Earnings, adjusted for one-time gains and costs, came to $1.75 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The communications equipment company posted revenue of $659.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $644.5 million.
For the year, the company reported profit of $254.7 million, or $5.72 per share. Revenue was reported as $2.61 billion.
For the current quarter ending in March, Belden expects its per-share earnings to range from $1.50 to $1.60.
The company said it expects revenue in the range of $615 million to $630 million for the fiscal first quarter.
Belden expects full-year earnings in the range of $6.60 to $7 per share, with revenue ranging from $2.67 billion to $2.72 billion.
Belden shares have climbed 15% since the beginning of the year. The stock has risen 48% in the last 12 months.
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