Belden Inc. (BDC) 2015年年度报告「NYSE」.pdf

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1、 2015 Annual Report 1 Dear Fellow Shareholders,Despite having to weather the unpleasant impact of declining oil prices and a stronger U.S.dollar,there were many outstanding achievements in 2015.Share capture was exceptional across the majority of our businesses and our continued margin expansion is

2、quite unique.Gross profit margins,EBITDA margins and EPS are all at record highs,the latter growing at 17.7%1,something not often seen in the current environment.Additionally,our commitment to,and proficiency with,Lean Enterprise is consistently driving productivity in all areas of the business.Our

3、attractive portfolio,robust business system and dedicated global team provide the framework for sustained financial success.I would like to share with you a number of significant actions that have driven this success.Addition of Network Security to our portfolio The acquisition of Tripwire led to th

4、e creation of our fifth business platform,Network Security.As our customers deploy Internet Protocol systems and enjoy the substantial productivity benefits,the risks of operational disruption,intellectual property loss,brand damage and fraud from cyber-attacks increase.Tripwire reduces the risks,de

5、livering highly specialized and proven software to prevent,detect and respond to these attacks.In Tripwires first year,we saw geographical expansion,industry diversification and product synergies,reflective of the increasing strategic importance of cybersecurity in many verticals.We are already emba

6、rking on commercial opportunities to leverage Tripwires products into our markets and applications in which Belden is well positioned,including the industrial factory floor.Looking forward,were excited about this prospect.Share Capture 2015 was a standout year for share capture at Belden.We exceeded