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Coleman Cable, Inc. Announces Fourth-Quarter And Full-Year 2010 Financial Results

WAUKEGAN, Ill., March 7, 2011 (GLOBE NEWSWIRE) -- Coleman Cable, Inc. (Nasdaq:CCIX) (the "Company," "Coleman," "we," "us," or "our"), a leading manufacturer and innovator of electrical and electronic wire and cable products, announced fourth-quarter and full-year 2010 financial results.

Full Year 2010 Highlights

  • Adjusted Earnings Per Share (Adjusted EPS) increased to $0.69 per diluted share versus $0.07 last year;
  • Sales increased to $703.8 million, up 39.6 percent compared to 2009, with sales volume (measured in total pounds shipped) growth of 16.7 percent over last year.

Fourth-Quarter 2010 Highlights

  • Adjusted EPS of $0.12 per diluted share, a 20.0 percent increase versus $0.10 last year;
  • Sales increased to $186.2 million, up 32.9 percent compared to the fourth quarter of last year, with sales volume growth of 12.6 percent over last year.

Outlook

  • For the first quarter of 2011, the Company estimates sales between $190.0 million and $200.0 million and Adjusted EPS between $0.18 and $0.27 versus Adjusted EPS of $0.12 for the first quarter of 2010.

Fourth-Quarter and Full-Year 2010 Results

Net sales increased 32.9 percent for the fourth quarter to $186.2 million versus $140.1 million for the fourth quarter of 2009, on a 12.6 percent increase in sales volume (measured in total pounds shipped). Fourth-quarter 2010 Adjusted EPS and Adjusted EBITDA were $0.12 per diluted share and $14.8 million, respectively, compared to $0.10 per diluted share and $15.1 million, respectively, for the fourth quarter of 2009.

Net sales increased 39.6 percent for the full year of 2010 to $703.8 million versus $504.2 million last year, on a 16.7 percent increase in sales volume. Full-year Adjusted EPS and Adjusted EBITDA were $0.69 per diluted share and $63.8 million, respectively, compared to $0.07 per diluted share and $50.2 million, respectively, in 2009.  

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