Belden www.belden.com today reported first quarter 2009 revenue of $328.5 million and an operating loss of $37.6 mi...
April 29, 2009
Belden www.belden.com today reported first quarter 2009 revenue of $328.5 million and an operating loss of $37.6 million, compared to revenue and operating income of $511.8 million and $26.6 million in the first quarter of 2008, respectively.
The company reported a net loss of $32.5 million, or ($0.70) per diluted share, down from net income of $12.9 million, or $0.27 per diluted share, in the prior year period.
Operating income in the first quarter of 2009 was $16.1 million or 4.9% of revenue, compared to $51.3 million or 10% a year ago. Adjusted net income per diluted share was $0.16 in the quarter, compared to $0.67 in the first quarter of 2008.
“Despite an economic environment generally as challenging as we expected, we are pleased with the overall performance of our business,” said John Stroup, president and CEO of Belden.
“Although we expect the economy to remain challenging throughout the year, we are off to a strong start on our cost reduction programs. As a result of the hard work of our associates around the globe, we continue to make investments in our Lean enterprise and organic growth strategic initiatives.”
All figures quoted are in U.S. dollars.