ST. LOUIS, Jan. 15 /PRNewswire-FirstCall/ -- Belden (NYSE: BDC), a leader in the design, manufacture, and marketing of signal transmission solutions for industrial automation, data networking, and a wide range of specialty electronics markets, today announced that as a result of the global economic downturn, it is revising estimates for 2008.

The Company now expects revenue for the full year 2008 to be roughly $2.0B compared to the previous estimate of about $2.1B. The revised revenue estimate implies fourth quarter revenue of approximately $425 million, 15 percent lower than the fourth quarter revenue implied by our previous full year revenue guidance of about $2.1B. Revised full year 2008 earnings per diluted share, adjusted for asset impairment, restructuring charges, gross profit impact of revenue deferral in the Wireless Segment, and nonrecurring purchase accounting effects, are estimated to be in a range of $2.53 to $2.58, which implies a fourth quarter adjusted diluted EPS of $0.12 to $0.17. Previous adjusted diluted EPS guidance was $2.95 to $3.00 for the full year 2008, and $0.54 to $0.59 for the fourth quarter.

"The impact from both softening demand and customer inventory reductions across all of our businesses and end markets has proved more significant than we originally anticipated," said John Stroup, President and Chief Executive Officer of Belden. "In an effort to counteract the negative effects of the deteriorating economy, we announced in early December plans to streamline our manufacturing, sales and administrative functions worldwide resulting in a work force reduction of approximately 1,800 associates (20 percent) and the consolidation of some of our manufacturing operations. We believe these measures provide us with the necessary cost structure to succeed during this period of weaker demand. Although we expect to face considerable market challenges throughout the year, we remain confident that our restructuring actions will deliver cost savings of approximately $30 million during 2009. These actions give us flexibility while also positioning us well for the upturn that will follow."

In light of the current difficult market conditions, the Company expects to incur a non-cash goodwill impairment charge in the fourth quarter of 2008. The Company is in the process of completing its annual test for goodwill impairment and will report impairment as part of its year-end disclosure.

The Company is continuing to review its fourth quarter results and will provide additional information in its earnings announcement, which is currently scheduled on February 5, 2009. A news release will be distributed before the market opens on that day and management will discuss the results of the quarter during a conference call at 10:30 a.m. (Eastern Time), which the Company will broadcast live via the Internet.

Forward Looking Statements

Statements in this release other than historical facts are "forward looking statements" made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on forecasts and projections about the industries served by the Company and about general economic conditions. They reflect management's beliefs and expectations. They are not guarantees of future performance and they involve risk and uncertainty. The Company's actual results may differ materially from these expectations. The current global economic slowdown has adversely affected our results of operations and may continue to do so. Turbulence in financial markets may increase our borrowing costs. Some additional factors that may cause actual results to differ from the Company's expectations include demand for the Company's products; the cost and availability of materials including copper, plastic compounds derived from fossil fuels, and other materials; energy costs; the Company's ability to integrate successfully the acquired businesses; and other factors. For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on February 29, 2008. Belden disclaims any duty to update any forward looking statements as a result of new information, future developments, or otherwise.

About Belden

Sending All the Right Signals -- from industrial automation to data centers, from broadcast studios to aerospace, from cutting-edge wireless communications to consumer electronics, Belden people are committed to delivering the best signal transmission solutions in the world. Belden associates work in copper cable, fiber, wireless technology, connectors, switches and active components to bring voice, video and data to your mission- critical application. With 2007 revenue of $2.0 billion, Belden has manufacturing capability in North America, Europe and Asia. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com.

Contact:

Belden Investor Relations

314-854-8054

SOURCE Belden