Slide 1: 3rd Quarter 2014 Earnings Release Conference Call
3rd Quarter 2014 Earnings Release Conference Call October 29, 2014 © 2014 Belden Inc. | belden.com | @BeldenInc PROPRIETARY AND CONFIDENTIAL. COPYING RESTRICTED. FOR INTERNAL USE ONLY.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the 2014 fourth quarter and full year. Forward- looking statements include projections of sales, earnings, general economic conditions, market conditions, working ca
Slide 3: Q3 2014 Highlights
Q3 2014 Highlights Grew revenues by 16.7% from the year-ago period; Achieved record gross profit margins of 37.6%, an increase of 160 basis points from 36.0% in the third quarter 2013; Delivered a company record $85.6 million in operating profit in the third quarter and expanded operating prof
Slide 4: 3rd Quarter Segment Overview
3rd Quarter Segment Overview Broadcast Solutions Enterprise Connectivity Revenue $256.6M Revenue $115.3M Operating Profit Margin 13.5% Operating Profit Margin 12.7% Automation Playout Servers Signal Processing Precision A/V Monitoring Racks and Copper and Fiber Ethernet, & Branding & Routing Cable a
Slide 5: Financial Summary
Financial Summary Q3 2014 Q2 2014 Q3 2013 Revenue $613.1M $605.1M $525.6M Gross profit $230.2M $223.8M $189.2M Gross profit percentage 37.6% 37.0% 36.0% Operating income $ 85.6M $ 78.4M $ 74.5M Operating income percentage 14.0% 13.0% 14.2% Income from continuing operations $ 50.4M $ 46.5M $ 42.4M In
Slide 6: Segment Results
Segment Results Enterprise Industrial Broadcast Industrial IT Consolidated Connectivity Connectivity Q3 2014 Revenue $256.6M $115.3M $171.1M $70.1M $613.1M Operating income(1) $34.6M $14.6M $23.3M $13.0M $85.6M Operating income percentage 13.5% 12.7% 13.6% 18.6% 14.0% Q2 2014 Revenue $252.3M $121.3M
Slide 7: Q3 2014 Balance Sheet Highlights
Q3 2014 Balance Sheet Highlights Q3 2014 Q2 2014 Q3 2013 Cash and cash equivalents $449.1M $445.0M $503.8M Inventory turns 7.0x 6.9x 6.4x Days sales outstanding 62 days 63 days 57 days Working capital turns 8.0x 7.9x 7.0x PP&E Turns 7.6x 7.3x 6.9x Total debt principal amount $1.54B $1.56B $1.32B © 2
Slide 8: Cash Flow Highlights
Cash Flow Highlights Q3 2014 Q3 2013 Cash flows from operating activities $63.2M(1) $ 67.3M Less: Net capital expenditures(2) $ 8.3M $ 11.1M Free cash flow (3) $ 54.9M $ 56.2M Cash used to acquire businesses(4) $ 1.6M $ 0.0M Share repurchases and dividends $ 33.2M $ 33.4M (1) Adjusted for one-time c
Slide 9: Outlook
Outlook 2014 Full Year(1) • Revenue of $2.30 - $2.32 billion • Income from continuing operations per diluted share of $4.15 - $4.25 Q4 2014(1) • Revenue of $590 - $610 million • Income from continuing operations per diluted share of $1.15 - $1.25 (1) Adjusted outlook. See Appendix for reconciliation
Slide 10: Appendix
Appendix © 2014 Belden Inc. | belden.com | @BeldenInc 10
Slide 11: Statements of Operations and Comprehensive Income
Statements of Operations and Comprehensive Income © 2014 Belden Inc. | belden.com | @BeldenInc 11
Slide 12: Operating Segment Information
Operating Segment Information © 2014 Belden Inc. | belden.com | @BeldenInc 12
Slide 13: Balance Sheet
Balance Sheet © 2014 Belden Inc. | belden.com | @BeldenInc 13
Slide 14: Cash Flow Statement
Cash Flow Statement © 2014 Belden Inc. | belden.com | @BeldenInc 14
Slide 15: Free Cash Flow GAAP to Non-GAAP Reconciliation
Free Cash Flow GAAP to Non-GAAP Reconciliation © 2014 Belden Inc. | belden.com | @BeldenInc 15
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation © 2014 Belden Inc. | belden.com | @BeldenInc 16
Slide 17: GAAP to Non-GAAP Reconciliation – Segments
GAAP to Non-GAAP Reconciliation – Segments © 2014 Belden Inc. | belden.com | @BeldenInc 17
Slide 18: GAAP to Non-GAAP Reconciliation – Segments
GAAP to Non-GAAP Reconciliation – Segments © 2014 Belden Inc. | belden.com | @BeldenInc 18
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 2014 Revenue and Earnings Guidance © 2014 Belden Inc. | belden.com | @BeldenInc 19