Belden Inc. - BDC STOCK NEWS

Belden experienced a cyberattack detected on November 12, 2020, potentially exposing personal information of current and former employees, including health-related data. An ongoing investigation has confirmed unauthorized access was contained, and law enforcement has been notified. Notification letters are being sent to affected individuals, offering identity monitoring services to mitigate risks. Belden continues to enhance security measures and monitor for suspicious activity on its systems. Founded in 1902, Belden specializes in mission-critical network infrastructure products.

Belden (NYSE: BDC) announces that Executive Chairman John Stoup will retire in May after the shareholders' annual meeting. Stoup, who served as CEO from 2005 to 2020, has been praised for his leadership and contributions to the company's growth and industry positioning. Roel Vestjens, the current CEO, expressed gratitude for Stoup's mentorship, while Lead Independent Director David Aldrich recognized Stoup's significant impact during his tenure. The transition is expected to maintain Belden's success and long-term value creation.

The Board of Directors of Belden declared a quarterly dividend of $0.05 per share, payable on April 7, 2021, to shareholders recorded as of March 12, 2021. Belden, founded in 1902 and based in St. Louis, offers a wide range of products for industrial and enterprise network infrastructure. Its focus lies on reliable data, audio, and video transmission solutions, aiding in the global transition to connected technologies. With a manufacturing presence in multiple regions, Belden remains a critical player in the evolving digital landscape.

Belden Inc (NYSE: BDC) has launched a new Fiber Same-Day Shipping service aimed at enhancing product availability for installers and low-voltage system integrators. This service is designed to address the challenges posed by COVID-19-related supply chain issues. Customers can select from over 64 fiber products, including cables and patch panels, with same-day processing for orders placed by 2 PM EST. This initiative seeks to expedite project timelines by ensuring that necessary fiber solutions are delivered quickly and efficiently, ultimately supporting faster cabling deployments.

Belden Inc. (NYSE: BDC) has been awarded the 2020 Technology & Engineering Emmy® for its pivotal role in standardizing SMPTE cables that transitioned the broadcast industry from analog to digital. This innovation enabled long-distance transmission of digital video while supplying power to cameras. The Emmy award recognizes Belden's substantial contributions to the television industry. Moreover, Belden continues to innovate with its latest 4K UHD Coax Cable, enhancing 12G-SDI transmission capabilities. The company is positioned to support the industry's shift to ultra-high definition broadcasting.

Belden Inc. (NYSE: BDC) announced its fourth quarter and full year 2020 results, reporting revenues of $498.5 million for Q4 and $1.863 billion for the year, down from $549.7 million and $2.131 billion in the prior-year periods. EPS rose to $0.35, up from $0.05, while adjusted EPS decreased to $0.90 from $1.20. The company achieved $15 million in quarterly savings from its SG&A cost reduction program. With an outlook for 2021, Belden expects revenues of $1.990 - $2.050 billion and GAAP EPS of $1.70 - $2.10. A CFO transition was also announced, with Jeremy Parks succeeding Henk Derksen.

Belden (NYSE: BDC) will announce its fiscal fourth quarter and full year results for the period ending December 31, 2020, on February 10, 2021, before market opening. A conference call to discuss these results will take place at 8:30 a.m. ET. Investors can access the live audio broadcast at investor.belden.com or call 866-248-8441 with confirmation code 7695993. A replay will be available on the investor relations website for a limited time.

Founded in 1902 and headquartered in St. Louis, Belden specializes in networking solutions for industrial and enterprise markets.

Federman & Sherwood has launched an investigation into Belden (NYSE: BDC) regarding potential violations of consumer laws linked to a data breach disclosed on November 24, 2020. The breach reportedly allowed unauthorized access to sensitive data, including personal identifiable information (PII) such as names, Social Security numbers, and financial details of job applicants, employees, and business partners. Individuals affected by this incident are encouraged to reach out to Federman & Sherwood for participation in the litigation.

Belden Inc. (NYSE: BDC) announced its acquisition of OTN Systems N.V. for approximately $71 million, expanding its capabilities in industrial automation. This strategic move aligns with Belden's focus on enhancing end-to-end solutions for its customers. The acquisition is expected to add about $35 - $40 million to revenues in the first full year while diluting GAAP EPS by $0.12 - $0.09 but increasing adjusted EPS by $0.10 - $0.13. Additionally, Belden raised its revenue and EPS guidance for Q4 2020, expecting revenues of $494 - $499 million and GAAP EPS between $0.42 - $0.47.