Belden Inc. (NYSE: BDC), a global provider of high quality, end-to-end signal transmission solutions for mission-critical applications, has reported fiscal third quarter 2017 results for the period ended October 1, 2017, the company said.
On a GAAP basis, revenues for the quarter totaled USD 621.7 million, increasing USD 20.6 million, or 3.4%, compared to USD 601.1 million in the third quarter 2016. Net income was USD 1.0 million, a decrease of USD 35.1 million from the prior-year period.
Net income was impacted by a USD 32.2 million after-tax loss on debt extinguishment related to our recent debt refinancing and repayment. Net income as a percentage of revenues was 0.2% compared to 6.0% in the prior-year period. EPS was USD (0.18) compared to USD 0.69 in the third quarter 2016.
The USD 621.7 million of quarterly revenues represents an increase of USD 19.2 million, or 3.2%, over the adjusted revenues of USD 602.5 million in the third quarter 2016. Adjusted EBITDA margin in the third quarter was 19.2%, increasing 70 basis points from 18.5% in the year-ago period.
Adjusted net income was USD 73.9 million, increasing USD 12.3 million, or 20.1%, compared to the prior-year period. Adjusted EPS was USD 1.49, increasing 15.5% compared to USD 1.29 in the third quarter 2016. Adjusted results are non-GAAP measures, and a non-GAAP reconciliation table is provided as an appendix to this release.
Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit www.belden.com or follow on Twitter @BeldenInc.