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TheStreet Open House

Asia Pacific Wire And Cable Company Reports First Quarter 2013 Financial Results

Stocks in this article: APWC

  • Q1 2013 net revenues increased 2.7% year-over-year to $101.0 million
  • Net income attributable to APWC shareholders was $0.9 million
  • Earnings per share was $0.06 in Q1 2013 and Q1 2012
  • $67.8 million in cash and cash equivalents at March 31, 2013

TAIPEI, Taiwan, July 2, 2013 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (Nasdaq:APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the three months ended March 31, 2013.

Financial Summary
First Quarter 2013 Financial Results
       
  Q1 2013 Q1 2012 CHANGE
Revenues  $101.0 million $98.3 million +2.7%
Gross Profit $7.8 million $9.0 million -13.9%
Net Income $0.9 million $0.8 million +2.9%
EPS  $0.06 $0.06 -
* Earnings per share are based on 13.8 million shares in Q1 2012 and Q1 2013.

First Quarter 2013 Results

Revenues for the year ended March 31, 2013 were $101.0 million, a 2.7% increase from the prior period. Reduced sales of manufactured products including enameled and high voltage wire were partially offset by higher sales of distributed products and SDI projects for the quarter. Revenues for the three months ended March 31, 2013 were as follows: enameled wire sales of $40.0 million, power cable sales of $39.3 million, telecommunication cable sales of $4.8 million, distributed products sales of $16.3 million and SDI (Supply, Delivery and Installation) of wires and cables sales of $0.4 million.

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