Belden reports strong first-quarter results

Belden, a manufacturer of cable and networking products, has announced results of its 2010 fiscal first quarter, reporting revenue of $400.3m (£262.4m) and operating income of $28.1m, compared to revenue of $328.5m and an operating loss of $36.4m in the first quarter of 2009.

Net income during the first quarter of 2010 increased to $11.7m, or $0.25 per diluted share, up from a net loss of $32.5m, or ($0.70) per diluted share, in the prior-year period.

Adjusted operating income in the first quarter of 2010 was $31m or 7.8 per cent of revenue, compared to 5.3 per cent a year ago.

Adjusted income from continuing operations in the first quarter was $14.0m or $0.29 per diluted share, compared to $7.3m or $0.16 per diluted share in the first quarter of 2009.