- Despite the impact of metal cost headwinds, operating income in North America of $17.3 million exceeded management’s expectation in the fourth quarter of 2011
- Project backlog advanced during the fourth quarter for submarine and land-based turnkey cable projects in Europe as the Company added two new projects totaling more than $65 million, collectively, resulting in a total project backlog at the end of 2011 of more than $650 million
- Pan-European market strategy continues to advance as the Company further aligns resources and reduces its cost base; including the action taken in the fourth quarter of 2011, headcount in our Iberian business has been reduced by 20% at a cost of approximately $29 million over the last four years
- Excluding aerial transmission product shipments in Brazil and our business in Thailand, which was severely impacted by flooding in the fourth quarter, ROW volume as measured in metal pounds sold in the fourth quarter of 2011 increased 10% sequentially and 12% year over year
- Operating cash flow in the fourth quarter of $137 million, reflecting seasonal trends
- The Company repurchased $62.5 million or about 5% of its common shares during the fourth quarter under the terms of its $125 million Share Repurchase Program
- Industry Week ’s 2011 Top 10 Best Plants in North America was received by our Lawrenceburg, Kentucky and Lincoln, Rhode Island facilities
General Cable Reports Fourth Quarter Results
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