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Belden Inc. (BDC) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

Belden Inc.

CIK: 1594686 Ticker: BDC
Exhibit 99.1
         
(LOGO)
  7733 Forsyth Boulevard
Suite 800
St. Louis, Missouri 63105
  Phone: 314.854.8000
Fax: 314.854.8003
 
      www.Belden.com
News Release
Belden Reports Strong Fourth Quarter and Full Year 2010 Results
Fourth quarter earnings per diluted share increase 179% year-over-year
Fourth Quarter Highlights
    Increased non-GAAP income from continuing operations per diluted share to $0.55, up 41% over last year’s $0.39 per diluted share;
 
    Grew revenue 13% year-over-year to $425.2 million, from $374.7 million in the fourth quarter 2009;
 
    Strengthened the Company’s connectivity and networking product platforms with the acquisitions of GarrettCom and the Thomas & Betts communications products business, with combined trailing 12-month revenue of approximately $100 million;
 
    Generated an after-tax gain on the sale of Trapeze Networks of $44.8 million, or $0.93 per diluted share, and
 
    Raised guidance for fiscal 2011 to revenues of $1.85 — $1.90 billion and income from continuing operations per diluted share of $2.05 — $2.25, up from prior guidance of $1.75 — $1.80 billion and $2.00 — $2.20, respectively.
Full Year 2010 Highlights
    Increased non-GAAP income from continuing operations per diluted share to $1.77, up 53% over last year’s $1.16 per diluted share;
 
    Grew revenue 19% to $1.62 billion, from $1.36 billion in 2009, and
 
    Generated free cash flow in excess of non-GAAP net income and increased the balance of cash and cash equivalents to $358.7 million at December 31, 2010.
St. Louis, Missouri — February 3, 2011 —
Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today reported fiscal fourth quarter and full year 2010 results for the period ended December 31, 2010.
Fourth Quarter 2010
Revenue for the quarter totaled $425.2 million, up $50.5 million or 13% compared to $374.7 million in the fourth quarter 2009. Earnings per diluted share totaled $1.17, compared to $0.42 in the fourth quarter 2009.
John Stroup, President and CEO of Belden Inc. said, “Our fourth quarter results reflect a strong finish to a great year. In addition, the two acquisitions we completed in the fourth quarter represent meaningful additions to our connectivity and networking product platforms.”
Non-GAAP operating income totaled $40.9 million or 9.8% of revenue, compared to $35.0 million or 9.0% of revenue in the fourth quarter 2009. Non-GAAP income from continuing operations per diluted share totaled $0.55, compared to $0.39 in the fourth quarter 2009.

 


The following information was filed by Belden Inc. (BDC) on Thursday, February 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: BDC
CIK: 913142
Form Type: 10-K Annual Report
Accession Number: 0000950123-11-018365
Submitted to the SEC: Fri Feb 25 2011 11:28:53 AM EST
Accepted by the SEC: Fri Feb 25 2011
Period: Friday, December 31, 2010
Industry: Drawing And Insulating Of Nonferrous Wire

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