While reporting financial results for the fourth quarter on Wednesday, Belden Inc. (BDC) initiated its earnings and revenue guidance for the full year 2022 and for the first quarter of fiscal 2022.
For fiscal 2022, the company now projects earnings in a range of $4.10 to $4.45 per share and adjusted earnings in a range of $5.00 to $5.35 per share on revenues between $2.39 billion and $2.44 billion. This outlook represents results from continuing operations, which is expected to exclude Tripwire.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.07 per share on revenues of $2.48 billion for the year. Analysts’ estimates typically exclude special items.
For the first quarter, the company expects earnings in a range of $0.76 to $0.86 per share and adjusted earnings in a range of $1.03 to $1.13 per share on revenues between $558 million and $573 million.
The Street expects the company to report earnings of $1.13 per share on revenues of $587.62 million for the quarter.
For the fourth quarter, the company reported a net loss of $51.6 million or $1.15 per share, compared to net income of $15.8 million or $0.35 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $1.32 per share, compared to $0.90 per share in the year-ago quarter.
Revenues for the quarter grew 28 percent to $638.91 million from $498.54 million in the same quarter last year.
Analysts expected earnings of $1.27 per share on revenues of $625.51 million for the quarter.
Further, the Company also announced that it has signed a definitive agreement to divest Tripwire for $350 million in cash. The transaction is expected to close in the first quarter 2022. Under the terms of the agreement, Belden will act as an exclusive reseller of Tripwire’s industrial cybersecurity solutions.
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