Belden Reports First Quarter 2024 Results and Acquisition of Precision Optical Technologies, Inc. [Yahoo! Finance]
Belden Inc (BDC)
Last belden inc earnings: 4/29 07:30 am
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Source: Yahoo! Finance
solutions, today reported fiscal first quarter results for the period ended March 31, 2024. First Quarter 2024 Highlights Revenues of $536 million, down 17% y/y and down 17% y/y organically GAAP EPS of $0.90, down 38% y/y Adjusted EPS of $1.24, down 26% y/y Entered into a definitive agreement to purchase Precision Optical Technologies, Inc. for $290 million in cash Purchased 0.7 million shares for $58 million during the quarter "Stability once again is the key takeaway this quarter, with our teams delivering first quarter revenues and EPS exceeding expectations," said Ashish Chand, President and CEO of Belden Inc. "Our team executed well in a dynamic environment as customers continue to work through inventory. We remain focused on growing our solutions capabilities through organic growth and disciplined capital deployment. Therefore, I am pleased to announce we entered into an agreement to acquire Precision Optical Technologies, Inc., as the newest addition to our Enterp
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