ST. LOUIS (AP) _ Belden Inc. (BDC) on Wednesday reported first-quarter net income of $28.7 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 64 cents. Earnings, adjusted for one-time gains and costs, were 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The communications equipment company posted revenue of $536.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $498.7 million.
For the current quarter ending in July, Belden expects its per-share earnings to range from 88 cents to 98 cents.
The company said it expects revenue in the range of $535 million to $550 million for the fiscal second quarter.
Belden expects full-year earnings in the range of $3.50 to $3.80 per share, with revenue ranging from $2.13 billion to $2.18 billion.
Belden shares have climbed roughly 3% since the beginning of the year. The stock has increased 36% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BDC at https://www.zacks.com/ap/BDC
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