RTTNews | Jul 29, 2020 08:10AM EDT

08:09 Wednesday, July 29, 2020 (RTTNews.com) - Belden Inc. (BDC), a supplier of specialty networking solutions, on Wednesday reported attributable net loss for the second quarter of $67.91 million or $1.52 per share, compared to net income of $33.47 million or $0.84 per share in the year-ago period.

Adjusted earnings for the quarter were $0.46 per share, compared to $1.26 per share in the prior-year quarter.

Revenues for the quarter declined to $424.8 million from $548.4 million in the prior-year period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share for the quarter on revenues of $410.19 million. Analysts' estimates typically exclude special items.

"The COVID-19 situation continues to create significant economic uncertainty and challenges in our global markets, but demand trends in our business appear to have stabilized. Assuming no further material disruptions related to the global pandemic, we expect modest sequential improvement in the third and fourth quarters," Roel Vestjens, President and CEO of Belden said.

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