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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (31497)	8/25/1998 11:24:00 AM
From: Joseph G.	Read Replies (2) \| Respond to of 132070

<<NEW YORK, Aug 25 (Reuters) - Warburg Dillon Read analyst Quinten Nufer cut the firm's rating on Belden Inc. to hold from strong buy on Tuesday, a day after Belden issued an earnings warning. -- cut EPS estimates for 1998 to $2.05 from $2.40, and for 1999 to $2.19 from $2.62. -- ''The expected shortfall is primarily related to Asian demand/competition problems and negative pricing and volume trends in Belden's heretofore most healthy end market -- networking cable,'' the analyst said in a research note. -- Belden's Asian demand is down about 50 percent, with Asian sales accounting for about 5 percent of revenue. -- European sales, which accounted for 16 percent of revenue in 1997, are also slowing as lower-priced cables from Asia pressure prices. The lower-priced products are also affecting sales in the United States. -- ''Lastly, Canadian demand (5 percent of revenue) has weakened significantly -- about 80 percent of the cable that Belden sells into Canada is sold to the natural resources, petroleum, mining and other process industries,'' the analyst said. >>