General Cable Corp has reported revenues of US$987.1 million and net income of US$41.5 million for its most recent ...
July 26, 2006
General Cable Corp has reported revenues of US$987.1 million and net income of US$41.5 million for its most recent quarter.
Earnings per share on a diluted per share basis for the second quarter ended June 30, 2006 was $0.80 compared to adjusted earnings per share of $0.27 in the second quarter of 2005, an increase of 196%.
“For the first time in several years, all of our product lines are in the black, including the North American industrial and local area networking businesses, which have been dilutive to earnings for the last few years,” said Gregory Kenny, president and CEO of General Cable.
“The early recognition of the long-term need for fresh investment in energy exploration, production, transmission and distribution infrastructure around the world and our related decision to acquire BICC in 1999 and Silec last year are starting to pay real dividends for our shareholders.
“Asia Pacific’s financial performance is benefiting from strong demand in Australia and the Pacific Islands. We are also seeing positive demand and stronger pricing trends in Portugal, Brazil, Angola, and Canada. The French market is also improving, particularly for power and industrial cables.”