Belden announces q3 adjusted earnings per share $1.18 excluding items
Belden announces results for third quarter 2019, intent to divest grass valley and cost reduction program.sees fy 2019 adjusted earnings per share $4.32 to $4.47.sees q4 2019 adjusted earnings per share $1.00 to $1.15.sees fy 2019 gaap earnings per share $2.04 to $2.19.sees q4 2019 gaap earnings per share $0.00 to $0.15.q3 adjusted earnings per share $1.18 excluding items.q3 loss per share $6.70.sees fy 2019 revenue $2.092 billion to $2.112 billion.sees q4 2019 revenue $510 million to $530 million.q3 revenue $620.3 million versus refinitiv ibes estimate of $632.7 million.q3 earnings per share estimate $1.41 -- refinitiv ibes data.fy2019 earnings per share view $5.52, revenue view $2.50 billion -- refinitiv ibes data.q4 earnings per share view $1.71, revenue view $646.9 million -- refinitiv ibes data.subsequent to end of q3, company made decision to pursue divestiture of grass valley.belden - announced cost reduction program that is designed to delivering a $40 million annualized reduction in selling, general, & administrative expenses.intends to deliver improvements by streamlining organizational structure and investing in technology to drive productivity.cost reduction actions will begin immediately, with some benefit in 2020, and full benefit in 2021.grass valley's financial results will be presented as discontinued operations in q4 and full year 2019 financial statements.
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