(RTTNews) - Belden Inc. (BDC), a supplier of specialty networking solutions, on Wednesday reported attributable net income for the third quarter of $17.00 million or $0.38 per share, compared to net loss of $297.98 million or $6.70 per share in the year-ago period.
Adjusted earnings for the quarter were $0.72 per share, compared to $1.19 per share in the prior-year quarter.
Revenues for the quarter declined to $475.8 million from $533.1 million in the prior-year period.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share for the quarter on revenues of $445.78 million. Analysts' estimates typically exclude special items.
Looking ahead to the fourth quarter, Belden expects adjusted earnings in a range of $0.63 to $0.78 per share and revenues in a range of $460 million to $485 million. The Street expects earnings of $0.80 per share on revenues of $471.28 million.
For the full year ending December 31, 2020, the company expects adjusted earnings of $2.47 to $2.62 per share and revenues in a range of $1.824 billion to $1.849 billion. Analysts expect earnings of $2.52 per share on revenues of $1.81 billion for the year.
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