Cable Technology Feature Article
General Cable Corporation to Announce Second Quarter 2010 Results via Webcast
By Jyothi Shanbhag, TMCnet Contributor
Headquartered in Highland Heights, Ky., General Cable Corporation main focus is in development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets.
Company’s Chief Executive Officer Gregory B. Kenny and Chief Financial Officer Brian J. Robinson said that they will discuss the second quarter results and will later on release the news detailing the results after the market closes on Monday, August 2, 2010.
Also, interested Media and investors get access the live audio webcast at www.generalcable.com beginning at 8:30 a.m. ET. The webcast will also be available for replay.
The officials at the company noted that in the previous quarter their early cycle products, specifically cables for MRO, OEM and networking applications in North America experienced a volume improvement of 4.9% compared to the prior year as measured by metal pounds sold. Sequentially, volumes in these businesses were up 8.4% in the first quarter compared to the fourth quarter of 2009.
They also said that the volumes sold were less this year due to a slower than expected start to the year with new exchange rate regulations, currency devaluation, and a national shortage of electricity. Excluding the impact of these two items, volumes in ROW were up 3.5% sequentially in the first quarter of 2010 compared to the fourth quarter of 2009, the company officials concluded.
Earlier this year, General Cable acquired Beru SAS (News - Alert), a wholly-owned subsidiary of BorgWarner France SAS, located in La Ferte Mace, France. The business from then is operated as General Cable Automotive Europe (GCAE) going forward. GCAE is a premier manufacturer of ignition wire harnesses sold into the European automotive OEM market as well as the aftermarket.
Jyothi Shanbhag is a contributing editor for TMCnet. To read more of Jyothi's articles, please visit her columnist page.
Edited by Marisa Torrieri