Belden’s Q2 revenue falls short of projection
Revenue for Belden Inc. fell 2.5 percent in the second quarter to $585.8 million, compared with $600.9 million in the same period last year due to a stronger U.S. dollar and lower energy prices, according to company officials.
Belden had projected second-quarter revenue of between $588 million and $608 million n.
The Clayton-based provider of networking, connectivity and cable solutions reported a second-quarter profit of $21.6 million compared with $15,000 in the second quarter last year. Second-quarter profit in 2014 dipped due to one-time and non-cash charges related to acquisitions and productivity improvement programs that had been instituted.
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“As we closed the first half of 2015, the demand environment varied significantly by platform, with strength from our enterprise and network security platforms partially offsetting weakness in the broadcast and industrial platforms,” Belden President and CEO John Stroup said in a statement. “The company achieved record gross and EBITDA (earnings before interest, taxes, depreciation and amortization) margins, and drove earnings growth of more than 15 percent year over year.”
Belden Inc. (NYSE: BDC) said Wednesday it projects third-quarter revenue to be $567-$587 million and full-year revenue of about $2.39-$2.44 billion.