HOUSTON (AP) _ Houston Wire & Cable Co. (HWCC) on Thursday reported third-quarter net income of $2.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had profit of 15 cents.
The specialty wire and cable distributor posted revenue of $90.1 million in the period.
Jim Pokluda, President and Chief Executive Officer, commented, “We were pleased to post our fifth consecutive quarter of year-over-year revenue growth, as customer demand and end market strength remained much improved over the prior year. We estimate sales for our project business, which targets end markets for Utility Power Generation, Environmental Compliance, Engineering & Construction, Industrials, and Mechanical Wire Rope, increased 13%, while Maintenance, Repair, and Operations (MRO) sales were up 10%, as compared to the third quarter of 2017.”
Houston Wire shares have decreased 12 percent since the beginning of the year. The stock has risen 21 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HWCC at https://www.zacks.com/ap/HWCC