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Strategies & Market Trends : Asia Forum
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To: MikeM54321 who wrote (4344)6/10/1998 4:34:00 PM
From: MikeM54321  Read Replies (2) of 9980
 
Re: Asia Warnings

This one was one of my "networking" stocks.

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Belden Announces Asia Looking Weaker Than Expected
ST. LOUIS, June 10 /PRNewswire/ -- Belden Inc. BWC announced today that they are experiencing declines in export business to the Asia/Pacific region in excess of original expectations. Because of the weak economic conditions in this region of the world, the Company is currently expecting revenue declines from Asia/Pacific in the second quarter of approximately $5 million compared with the prior year. This decline which is a combination of declining price and demand will likely result in pre tax earnings being $2.5 million to $3.0 million below earlier expectations for the second quarter of 1998.

The Company further indicated that the remainder of its business is currently performing in line with expectations. In spite of the weakness in Asia/Pacific, the Company currently expects to report second quarter revenues and earnings in excess of prior year. If economic conditions in the Asia/Pacific region do not improve from current levels, the Company expects a similar impact on revenues in the third and fourth quarters. However, Belden is taking steps to reduce costs in this region of the world to reflect the decline in activity.
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