Join        Login             Stock Quote

Belden (BDC) Buys Privately-Held Broadband Services Provider For $515.7M; Reaffirms Forecast

 December 11, 2012 09:09 AM

(By Balaseshan) Cable maker Belden Inc. (NYSE: BDC) said it has purchased privately-held Syracuse, New York-based broadband connectivity services provider PPC for $515.7 million. In addition, Belden reaffirmed its guidance for fourth quarter and full year 2012.

With operating margins above 22%, this transaction is accretive to Belden's consolidated operating results, and accretive to adjusted earnings per share in 2013 by $0.54.

The acquisition significantly enhances Belden's Broadcast Solutions platform and increases exposure to attractive end markets.

PPC, with 2012 revenues of about $238 million, is a manufacturer and developer of advanced connectivity technologies for the broadband service provider market.

[Related -Dividend Roundup: BDC, CM, DE, EMC, SALM, WU]

"PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls. Belden and PPC will provide unique end-to-end solutions for these customers, and I am excited about the opportunity ahead of us," said John Stroup, President and CEO of Belden.

Additionally, the company will reiterate its current EPS guidance for the fourth quarter and full year ending December 31, 2012 during its regularly scheduled Investor Day event beginning at 1:00 pm ET Tuesday. In addition, the company will communicate full-year 2013 guidance at the meeting.

The company still expects fourth quarter adjusted EPS from continuing operations of $0.72 to $0.77 and revenue of $500 million to $510 million, while Street predicts EPS of $0.75 on revenue of $503.68 million.

[Related -Collect Up To 19% Dividend Yields By Investing Like The 1%]

Belden also reaffirmed its full year 2012 EPS from continuing operations outlook of $3.00 to $3.05 and revenue forecast of $1.94 billion to $1.95 billion, while Street analysts predict EPS of $3.03 on revenue of $1.94 billion.

BDC closed Monday's regular session at $39.70. The stock has been trading between $29.65 and $41.43 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageThe Coca-Cola Company (KO) Q1 Earnings Preview: Guidance About to Fizzle?

The Coca-Cola Company (NYSE:KO) plans to release its first quarter earnings results before the market opens read on...

article imageIntel Corporation (INTC) Q1 Earnings Preview: A Business in Transition

Intel Corporation (NASDAQ:INTC) plans to post its first quarter earnings results promptly after the market read on...

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.