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TheStreet Open House

Asia Pacific Wire And Cable Corporation Reports First Nine Months 2013 Financial Results

Stocks in this article: APWC

  • Total sales increased 1.2% for the period ended September 30, 2013 to $336.4 million compared with the same period in 2012
  • Generated $10.4 million of cash inflows from operations for the first nine months ended September 30, 2013 vs. $4.6 million cash outflows the first nine months ended September 30, 2012
  • $67 million in cash and cash equivalents as of September 30, 2013

TAIPEI, Taiwan, Dec. 31, 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 nine months ended September 30, 2013.

Financial Summary    
       
Q3 2013 Financial Results    
       
  Q3 2012 Q3 2013 CHANGE
Revenues  $332.5 million $336.4 million +1.2%
Gross Profit $34.4 million $34.3 million --
Net Income Attributable to APWC $5.7 million $3.1 million -45.6%
EPS  $0.42 $0.22 -47.6%
       
* Earnings per share are based on 13.8 million shares for the nine-month period ended September 30, 2012 and 2013, respectively.

Year to Date 2013 Results

Revenues for the nine months ended September 30, 2013 were $336.4 million, a 1.2% increase from the corresponding period in 2012. Higher sales of distributed products and SDI were partially offset by lower sales of manufactured products.

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