Belden Inc. (BDC) 2014年年度报告「NYSE」.pdf

1、 2014 Annual Report 1 Dear Fellow Shareholders,When I wrote my first letter to shareholders,I introduced the priorities that would help us build and grow as a company well into the future.Those priorities included improving our product portfolio,entering faster growing markets and geographies,and ag

2、gressively applying Lean practices throughout the organization.In line with those priorities,I would like to call attention to a number of pivotal,long-term strategic actions taken throughout the year that strengthen our leadership position and prepare us for continued success.As a result,I am confi

3、dent that 2014 will mark an inflection point in our companys history.Invested in outstanding companies In 2014,we announced three wonderful additions to the portfolio with Grass Valley,ProSoft Technology,and Tripwire,representing more than$1 billion in committed capital to fortify our competitive po

4、sitions across each of our end markets.These attractive and accretive acquisitions significantly strengthen our competitiveness and highlight our mission of delivering innovative solutions and technology leadership.By combining intellectual property,engineering talent,and market access,we continue t

5、o strengthen our capabilities and ensure that our customers will have access to the most complete,end-to-end product solutions in each of our served markets to enhance their overall performance.Accelerated portfolio improvement In 2013,we spoke to shareholders about our desire to increase profitabil

6、ity within our Enterprise Connectivity platform.I am proud to announce that the actions taken by our management team have generated improved product mix and a solid foundation for future growth.The focus on margin expansion yielded an improvement in gross profit margins of 200 basis points and 5%gro