The Company now expects revenue for the full year 2008 to be roughly
"The impact from both softening demand and customer inventory reductions
across all of our businesses and end markets has proved more significant than
we originally anticipated," said
In light of the current difficult market conditions, the Company expects to incur a non-cash goodwill impairment charge in the fourth quarter of 2008. The Company is in the process of completing its annual test for goodwill impairment and will report impairment as part of its year-end disclosure.
The Company is continuing to review its fourth quarter results and will
provide additional information in its earnings announcement, which is
currently scheduled on
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. The current global economic slowdown has adversely
affected our results of operations and may continue to do so. Turbulence in
financial markets may increase our borrowing costs. Some additional 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
About Belden
Sending All the Right Signals -- from industrial automation to data
centers, from broadcast studios to aerospace, from cutting-edge wireless
communications to consumer electronics, Belden people are committed to
delivering the best signal transmission solutions in the world. Belden
associates work in copper cable, fiber, wireless technology, connectors,
switches and active components to bring voice, video and data to your mission-
critical application. With 2007 revenue of
Contact:
Belden Investor Relations
314-854-8054
SOURCE Belden