$BDC
Belden Inc

2014 Q2 Form 10-Q Financial Statement

#000119312514294938 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $600.9M $529.5M
YoY Change 13.48% 20.45%
Cost Of Revenue $396.5M $350.3M
YoY Change 13.19% 14.18%
Gross Profit $204.4M $179.2M
YoY Change 14.06% 34.94%
Gross Profit Margin 34.01% 33.84%
Selling, General & Admin $145.9M $93.50M
YoY Change 56.04% 14.7%
% of Gross Profit 71.39% 52.18%
Research & Development $31.62M $20.93M
YoY Change 51.06% 51.59%
% of Gross Profit 15.47% 11.68%
Depreciation & Amortization $11.40M $12.10M
YoY Change -5.79% -0.47%
% of Gross Profit 5.58% 6.75%
Operating Expenses $177.5M $114.4M
YoY Change 55.13% 20.04%
Operating Profit $12.33M $53.91M
YoY Change -77.14% 45.22%
Interest Expense $18.20M $18.35M
YoY Change -0.77% 53.91%
% of Operating Profit 147.68% 34.03%
Other Income/Expense, Net
YoY Change
Pretax Income -$5.766M $35.72M
YoY Change -116.14% 39.75%
Income Tax -$5.781M $6.225M
% Of Pretax Income 17.43%
Net Earnings $15.00K $29.49M
YoY Change -99.95% 21.49%
Net Earnings / Revenue 0.0% 5.57%
Basic Earnings Per Share $0.67
Diluted Earnings Per Share $0.00 $0.66
COMMON SHARES
Basic Shares Outstanding 43.60M shares 43.93M shares
Diluted Shares Outstanding 44.29M shares 44.79M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.0M $476.2M
YoY Change -6.55% 28.7%
Cash & Equivalents $445.0M $476.2M
Short-Term Investments
Other Short-Term Assets $59.65M $21.79M
YoY Change 173.78% -46.73%
Inventory $228.4M $209.7M
Prepaid Expenses
Receivables $417.0M $326.4M
Other Receivables $0.00 $20.40M
Total Short-Term Assets $1.179B $1.077B
YoY Change 9.42% 19.46%
LONG-TERM ASSETS
Property, Plant & Equipment $328.0M $299.8M
YoY Change 9.41% 3.29%
Goodwill $934.3M $772.0M
YoY Change 21.02%
Intangibles $483.0M $400.3M
YoY Change 20.64%
Long-Term Investments
YoY Change
Other Assets $99.17M $75.17M
YoY Change 31.92% -2.12%
Total Long-Term Assets $1.872B $1.587B
YoY Change 17.91% 83.31%
TOTAL ASSETS
Total Short-Term Assets $1.179B $1.077B
Total Long-Term Assets $1.872B $1.587B
Total Assets $3.050B $2.665B
YoY Change 14.48% 50.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $248.1M $190.5M
YoY Change 30.21% -14.44%
Accrued Expenses $224.4M $162.3M
YoY Change 38.3% 31.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $23.81M
YoY Change -89.5%
Total Short-Term Liabilities $475.0M $376.6M
YoY Change 26.13% 8.69%
LONG-TERM LIABILITIES
Long-Term Debt $1.559B $1.307B
YoY Change 19.28% 137.53%
Other Long-Term Liabilities $60.66M $46.04M
YoY Change 31.75% -71.77%
Total Long-Term Liabilities $1.620B $1.353B
YoY Change 19.7% 89.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $475.0M $376.6M
Total Long-Term Liabilities $1.620B $1.353B
Total Liabilities $2.095B $1.730B
YoY Change 21.1% 63.22%
SHAREHOLDERS EQUITY
Retained Earnings $576.4M $509.0M
YoY Change 13.23%
Common Stock $588.8M $587.5M
YoY Change 0.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $303.8M $257.8M
YoY Change 17.86%
Treasury Stock Shares
Shareholders Equity $834.8M $795.3M
YoY Change
Total Liabilities & Shareholders Equity $3.050B $2.665B
YoY Change 14.48% 50.74%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $15.00K $29.49M
YoY Change -99.95% 21.49%
Depreciation, Depletion And Amortization $11.40M $12.10M
YoY Change -5.79% -0.47%
Cash From Operating Activities $31.00M $55.20M
YoY Change -43.84% 333.01%
INVESTING ACTIVITIES
Capital Expenditures -$10.60M -$13.90M
YoY Change -23.74% -283.94%
Acquisitions
YoY Change
Other Investing Activities -$306.8M $1.600M
YoY Change -19275.0% -366.67%
Cash From Investing Activities -$317.4M -$12.30M
YoY Change 2480.49% 51.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 161.4M -39.20M
YoY Change -511.73% 80.55%
NET CHANGE
Cash From Operating Activities 31.00M 55.20M
Cash From Investing Activities -317.4M -12.30M
Cash From Financing Activities 161.4M -39.20M
Net Change In Cash -125.0M 3.700M
YoY Change -3478.38% -121.63%
FREE CASH FLOW
Cash From Operating Activities $31.00M $55.20M
Capital Expenditures -$10.60M -$13.90M
Free Cash Flow $41.60M $69.10M
YoY Change -39.8% 1231.15%

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10.5pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; MARGIN-RIGHT: 78px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="justify"><u>Reporting Periods</u></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10.5pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; MARGIN-RIGHT: 78px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="justify">Our fiscal year and fiscal fourth quarter both end on December&#xA0;31. Our fiscal first quarter ends on the Sunday falling closest to 91 days after December&#xA0;31, which was March&#xA0;30, 2014, the 89th day of our fiscal year 2014. Our fiscal second and third quarters each have 91 days. The six months ended June&#xA0;29, 2014 and June&#xA0;30, 2013 included 180 and 181 days, respectively.</p> </div>
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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5362000
us-gaap Increase Decrease In Other Operating Assets
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-232000
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-6312000
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64160000
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2310000
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OperatingIncomeLoss
98153000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
38842000
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PaymentsForRepurchaseOfCommonStock
62500000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7817000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1500000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-15269000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
51737000
us-gaap Payments To Acquire Property Plant And Equipment
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InvestmentIncomeInterest
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-897000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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InterestExpense
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ResearchAndDevelopmentExpense
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ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5362000
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-85769000
us-gaap Restructuring Charges
RestructuringCharges
5800000
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26082000
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CashAndCashEquivalentsPeriodIncreaseDecrease
81106000
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IncomeTaxExpenseBenefit
12423000
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NetCashProvidedByUsedInInvestingActivities
-23374000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
690415000
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Depreciation
21700000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3136000
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-1854000
us-gaap Inventory Write Down
InventoryWriteDown
963000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
122578000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2374000
us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
0
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5500000
us-gaap Share Based Compensation
ShareBasedCompensation
7366000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3659000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
388220000
bdc Pension Funding Less Than Greater Than Pension Expense
PensionFundingLessThanGreaterThanPensionExpense
1723000
bdc Proceeds Payments From Stock Options Exercised
ProceedsPaymentsFromStockOptionsExercised
-1186000
bdc Proceeds From Payments For Sale Of Business
ProceedsFromPaymentsForSaleOfBusiness
3735000
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
689000 shares
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.003 pure
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44292000 shares
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2014Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43603000 shares
CY2014Q2 us-gaap Gross Profit
GrossProfit
204385000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
600891000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5766000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
12326000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13894000
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-700000
CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
12734000
CY2014Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
15000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
15000
CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
111000
CY2014Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1256000
CY2014Q2 us-gaap Interest Expense
InterestExpense
18203000
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ResearchAndDevelopmentExpense
31618000
CY2014Q2 us-gaap Selling General And Administrative Expense
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145902000
CY2014Q2 us-gaap Restructuring Charges
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38208000
CY2014Q2 us-gaap Amortization Of Intangible Assets
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15795000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5781000
CY2014Q2 us-gaap Cost Of Goods Sold
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396506000
CY2014Q2 us-gaap Depreciation
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11400000
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-1145000
CY2014Q2 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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-1500000
CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
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1500000
CY2013Q2 us-gaap Earnings Per Share Diluted
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0.66
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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862000 shares
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.66
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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44790000 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.67
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43928000 shares
CY2013Q2 us-gaap Gross Profit
GrossProfit
179196000
CY2013Q2 us-gaap Sales Revenue Goods Net
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529491000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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35717000
CY2013Q2 us-gaap Operating Income Loss
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53913000
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23950000
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-800000
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-6743000
CY2013Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
29492000
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29492000
CY2013Q2 us-gaap Investment Income Interest
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149000
CY2013Q2 us-gaap Income Loss From Equity Method Investments
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2256000
CY2013Q2 us-gaap Interest Expense
InterestExpense
18345000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20931000
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93503000
CY2013Q2 us-gaap Restructuring Charges
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5000000
CY2013Q2 us-gaap Amortization Of Intangible Assets
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13105000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6225000
CY2013Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
350295000
CY2013Q2 us-gaap Depreciation
Depreciation
12100000
CY2013Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1201000
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
0

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