correction: corrects the first sentence to say income was higher from last year, not lower.
Network equipment maker Belden Inc. (BDC) reported higher income from continuing operations of $22.25 million, or $0.49 a share, compared with last year's $19.74 million, or $0.42 a share. On an adjusted basis, income from continuing operations per share stood at $0.84 for the period. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.80 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the latest quarter was $507.5 million, up 15.4% from $439.6 million in the first quarter 2012. Analysts estimated revenues of $509.67 million for the quarter. Adjusted revenue totaled $510.4 million, up by 16.1% over the prior year, while on an organic basis, revenue was slightly down year-over-year.
Going forward, the company sees second-quarter 2013 revenues to be $530 million - $540 million and adjusted income from continuing operations per share to be $0.90 - $0.95. Analysts project second-quarter earnings of $0.95 per share, and revenue of $539.92 million.
For 2013, the company expects revenues to be $2.07 billion - $2.12 billion, but now projects adjusted income from continuing operations per share to be 3.49 - $3.69, compared with its prior $3.44 - $3.69 range, whereas analysts estimate earnings of $3.61 per share, on $2.11 billion revenue for fiscal 2013.
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