Thursday, January 29, 2004

General Cable loses $10.6M in 4th quarter


The Cincinnati Enquirer

General Cable Corp., the cable and wire maker based in Highland Heights, reported a loss for the fourth quarter of $10.6 million, or 30 cents a share, including charges for debt refinancing and manufacturing streamlining.

Those earlier reported transactions reduced fourth-quarter earnings by 38 cents a share, the company said.

In the year-ago fourth quarter, the company reported a loss of $9.2 million, or 28 cents a share. Revenues for the three months ended Dec. 31 increased 8 percent, adjusted for metals prices, to $405.3 million.

For the year, the company reported a net loss of $5.4 million, or 16 cents a share, down from $24 million, or 55 cents a share, in the prior year that included $33.4 million in plant rationalization charges. Sales for the year rose 3 percent to $1.54 billion.

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