HIGHLAND HEIGHTS, Ky. (AP) — General Cable Corp. (BGC) on Wednesday reported a loss of $38.1 million in its first quarter.
On a per-share basis, the Highland Heights, Kentucky-based company said it had a loss of 78 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 35 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The produces wiring used in the energy, industrial, communications and construction sectors posted revenue of $1.26 billion in the period.
General Cable shares have increased 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.24, a decrease of 31 percent in the last 12 months.
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