It was an exciting day at Belden as we had an opportunity to ring The Opening Bell at the New York Stock Exchange. Our President and CEO, John Stroup, led other members of our senior management team on the podium.
John was joined by Henk Derksen, our CFO, Kevin Bloomfield, general counsel, Michelle Long, senior VP, Tax, Jeremy Parks, VP, FP&A and treasurer, Brian Anderson, corporate attorney, Matt Tractenberg, VP, Investor Relations and Tim Lenze, investor relations analyst.
This effort was secured by our investor relations team as a way to shed light on some of our significant accomplishments over the past few years.
- Transformation: Since CEO John Stroup joined the company in late 2005, Belden has transformed from a cable manufacturer to a provider of high-quality signal transmission solutions in the broadcast, industrial and enterprise markets. Products include networking hardware, security applications, and innovative broadcast infrastructure.
- Acquisitions: Belden has spent more than a billion dollars on acquiring attractive companies in the last 24 months. Belden continues to generate a great deal of cash and M&A is an important element of the Company’s strategy going forward.
- Profitability: Since 2006, gross margins have expanded by almost 1300 basis points (13 percentage points) to a best-in-class 35%. Belden has expanded operating margins by more than 800 basis points. This direction and speed is what Belden has been telling investors to expect all along.
- Consistency: Belden believes in providing insightful and transparent information to the market when setting expectations. Belden rarely adjusts full year earnings expectations, even in the challenging markets we've seen in recent years.
- Stock Price: Belden's stock price increased by 57% last year, outpacing all of its peers.
As you can see, the team has been very busy positioning Belden as a profitable and stable industry leader.