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Belden, Anixter release third quarter results

Belden today reported third quarter 2009 revenue of $355.2 million and operating income of $18.4 million, comp...


October 28, 2009  


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Belden today reported third quarter 2009 revenue of $355.2 million and operating income of $18.4 million, compared to revenue and operating income of $520.5 million and $47.7 million in the third quarter of 2008, respectively.

 

The company reported a net loss of $7.5 million, or ($0.16) per diluted share, down from net income of US$31.5 million, or $0.67 per diluted share, in the prior year period.

 

During the quarter, Belden recorded pre-tax operating charges for contract termination costs of $2.2 million, severance and employee relocation costs of $1.5 million, equipment relocation costs of $700,000, and other costs of $4.4 million associated with the company’s previously announced global restructuring plan.

 

Anixter International Inc, meanwhile, yesterday reported third quarter sales of US$1.27 billion, which represented a decrease of 20% from the same time one year ago. Operating income totaled $58.4 million, a 51% decline from the 117.9 million recorded in Q3 2008.


Despite the decline, Anixter shares rose today as a result of the better-than-expected results.

 

All figures quoted are in U.S. dollars.