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Belden Raises FY18 Adj. EPS Outlook - Quick Facts

Belden Inc. (BDC) said Wednesday it is on track to meet its commitments for the full year 2018, and are well-positioned for longer term success.

The company expects fiscal 2018 adjusted earnings in a range of $6.28 to $6.48 per share, compared to the prior guidance range of $6.23 to $6.48 per share. Adjusted revenues for the full year are now expected between $2.643 billion and $2.673 billion, compared to prior guidance range of $2.633 billion to $2.683 billion.

On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $6.36 per share on revenues of $2.65 billion for the year. Analysts' estimates typically exclude special items.

The company also projects third-quarter adjusted earnings in a range of $1.65 to $1.75 per share and adjusted revenues between $670 million and $690 million. Street is looking for earnings of $1.70 per share on revenues of $679.71 million for the quarter.

Further, the company expects improved organic growth, solid margin expansion, and double-digit earnings per share growth in the second half of the year.

For the second quarter, net income attributable to Belden common stockholders decreased to $20.14 million or $0.49 per share from $27.24 million or $0.64 per share in the prior-year quarter. Adjusted earnings were $1.52 per share, compared to last year's $1.29 per share.

Revenues for the quarter increased 9.5 percent to $668.6 million from last year's $610.6 million. Adjusted revenues totaled $671.4 million.

Analysts expected quarterly earnings of $1.46 per share on sales of $662.1 million.

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