NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- Belden is hosting a meeting with investors and equity analysts Wednesday, December 12, at the Grand Hyatt Hotel in New York, NY. John Stroup, President and Chief Executive Officer of Belden, along with other members of senior management, will discuss the Company's strategic plan and will present an overview of the business.
The Company is providing an update to its earnings expectations for 2007. John Stroup, President and Chief Executive Officer, said: "In October, we said that we expected 2007 earnings per diluted share, excluding certain charges and nonrecurring items, would be in the range of $2.85 to $2.95. We now expect our 2007 earnings per share to be in the low end of that range."
In connection with the investor meeting, Belden is disclosing its 2008 financial outlook. The Company expects that in 2008, revenue will be between $2.2 billion and $2.3 billion. Excluding restructuring costs and nonrecurring charges, the Company expects that its operating profit margin will be between 12 percent and 14 percent of revenue and earnings per diluted share will be between $3.45 and $3.75. The Company's effective tax rate is expected to be 32 percent. Capital expenditures are expected to be about $60 million
Webcast
The audio presentation of today's meeting, with slides, will be accessible via webcast at http://investor.belden.com/ and will be posted there after the meeting. Presentations will begin at 8:40 a.m. Eastern time, and the meeting will conclude at 11:00 a.m.
Forward-Looking Statements
Statements in this release other than historical facts are "forward-looking statements" made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on forecasts and projections about the industries served by the Company and about general economic conditions. They reflect management's beliefs and expectations. They are not guarantees of future performance and they involve risk and uncertainty. The Company's actual results may differ materially from these expectations. Some of the factors that may cause actual results to differ from the Company's expectations include demand for the Company's products; the cost and availability of materials including copper, plastic compounds derived from fossil fuels, and other materials; energy costs; the Company's ability to integrate successfully the acquired businesses; and other factors. For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the year ended December 31, 2006, filed with the SEC on March 1, 2007. Belden disclaims any duty to update any forward-looking statements as a result of new information, future developments, or otherwise.
About Belden
Belden is a leader in the design, manufacture and marketing of signal transmission solutions for data networking and a wide range of specialty electronics markets including entertainment, industrial, security and aerospace applications.
From: Belden Dee Johnson 314.854.8054
