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General Cable reports record first quarter revenue

General Cable Corp. reported today that revenue for the first quarter was US$804.3 million, its highest quarterly r...


May 1, 2006  


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General Cable Corp. reported today that revenue for the first quarter was US$804.3 million, its highest quarterly revenue ever recorded.

Net income for the first quarter of 2006 was US$21.4 million compared to US$9 million in the first quarter of 2005, an increase of 138%.

Earnings per share on a diluted per share basis for the first quarter ended March 31, 2006 was US$0.41 compared to US$0.18 in the first quarter of 2005, an increase of 128%.

Net sales were up in all reported business segments in the first quarter of 2006. First quarter 2006 operating income was US$42.2 million compared to first quarter 2005 operating income of US$24.2 million, an increase of US$18.0 million or 74%.

“We are experiencing strong demand in nearly all of our served markets, especially for products supporting non-residential industrial, oil, gas, and petrochemical (OGP), traditional and alternative energy and enterprise networking products from our customers in North America and Europe,” said Gregory Kenny, the firm’s president and CEO.

With over US$3 billion of annualized revenues and 7,000 employees, General Cable develops, designs, manufactures, markets and distributes copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty and communications markets.