General Cable Reports Estimated Third Quarter Results; Estimated Third Quarter Adjusted Operating Results Reflect Continuing Stability in Europe and Rest of World; Acquisitions Continue to Exceed Management’s Expectations

2013.11.06 22:28:25

[By NBC-1TV H. J Yook]General Cable Corporation (NYSE: BGC) announced today preliminary selected estimated results for the third quarter ended September 27, 2013. These results are considered preliminary due to the additional time needed to finalize the Company’s restated financial statements for the prior periods described below (see “Other Matters”). Due to the timing and ongoing preparation of the restated financial statements, the Company has provided only selected financial data tables in this press release.

Estimated adjusted operating income in Europe and ROW, specifically Asia Pacific and Latin America, was in line with management’s expectations. The performance of these businesses was more than offset by the impact of lower than expected demand principally in the Company’s North American aluminum-based businesses including aerial transmission, construction and rod and strip products. For the third quarter of 2013, excluding certain items, the Company generated estimated adjusted earnings per share of $0.45 and estimated adjusted operating income of $63 million. For the third quarter of 2013, estimated reported earnings per share were $0.31 and estimated reported operating income was $56 million. A reconciliation of estimated adjusted earnings per share to estimated reported earnings per share and estimated adjusted operating income to estimated reported operating income is included on page 4 of this press release.


By H. J Yook hjyook@nbc1tv.com
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