Shares of Belden Inc. (NYSE:BDC), a provider of signal-transmission products in a number of segments that include television broadcast and satellite industries, are up over 12% in early afternoon trading Wednesday after the company released strong fourth-quarter results.
Fourth-quarter revenue checked in at $655.4 million, an 8.4% increase compared to the prior year, but just short of analysts' estimates calling for $663.1 million. The bottom line was a better story for investors, with adjusted earnings per share checking in at $1.66, better than estimates calling for $1.63. The company also posted better adjusted margin than the prior year, up 40 basis points to 18.6%.
Said John Stroup, president, CEO, and chairman of Belden, in a press release:
Revenues were consistent with our expectations across most of our portfolio in the fourth quarter when adjusted for unfavorable movements in foreign currency rates and copper prices. I am pleased with the progress we are making on our manufacturing capacity constraints. Going forward we expect significantly reduced lead times and inventory levels.
Belden entered the year with increased global economic uncertainty and challenges in its enterprise solutions segment, which will hinder the company's 2019 revenue and earnings growth. But management remains confident it will still generate meaningful growth over the long term. The company expects full-year 2019 revenue between $2.495 billion and $2.595 billion and adjusted EPS between $5.50 and $6.15.