- Despite the impact of metal cost headwinds in the early part of the first quarter, operating income of $53.4 million exceeded management’s expectation increasing 69% sequentially
- Operating income in North America increased $13.1 million or 76% to $30.4 million in the first quarter of 2012 from $17.3 million in the fourth quarter of 2011
- Adjusted earnings per share increased 60% to $0.48 per share in the first quarter of 2012 from $0.30 per share in the fourth quarter of 2011
- Excluding project driven metal intensive aerial transmission product shipments in Brazil and North America, global volume as measured in metal pounds sold in the first quarter of 2012 increased 7% sequentially
- Excluding aerial transmission product shipments, volume as measured in metal pounds sold in North America increased 14% sequentially and 2% year over year
- Maintained global project backlog of $650 million for our European based submarine and land turnkey cable projects business
- Inaugurated state of the art manufacturing facility in Baddi, India offering a full range of products servicing the $8.0 billion Indian wire and cable market
- Expanded the Company’s transportation and industrial harness business into South America through the acquisition of Delphia Produtos Electricos in Brazil; further enhancing the Company’s ability to support the needs of its global customers
General Cable Reports First Quarter Results; Metal Cost Headwinds Subside; Volumes Increase Both Year Over Year And Sequentially
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