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Belden reports record Q2 revenues


August 1, 2014  


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Belden Inc. this week reported record fiscal second quarter 2014 results for the period ended June 29, 2014.

On a GAAP basis, revenues for the quarter totaled US$600.9 million and were a company record. Revenues were up US$71.4 million, or 13.5%, compared to US$529.5 million in the second quarter 2013.

Gross profit margin in the second quarter was 34.0%, increasing 20 basis points from 33.8% in the year-ago period. Operating profit margin in the second quarter was 2.1%, decreasing from 10.2% in the year-ago period.
Adjusted revenues for the quarter totaled US$605.1 million and were also a company record.

Adjusted revenues were up US$72.5 million, or 13.6%, compared to $532.6 million in the second quarter 2013. Adjusted gross profit margin in the second quarter was 37.0%, increasing 180 basis points from 35.2% in the year-ago period. Adjusted operating profit margin in the second quarter was 13.0%, decreasing 120 basis points from 14.2% in the year-ago period, due to the initial impact of recently acquired Grass Valley.

“So far this year, we’ve deployed more than US$340 million in strategic acquisitions and share repurchases, said John Stroup, president and CEO of Belden.

“Overall, the business performed well, with revenue strength in our Broadcast and Industrial Connectivity platforms offsetting the margin expansion initiatives within our Enterprise Connectivity business.”