Houston Wire & Cable Company Reports Results for the Quarter and Year Ended December 31, 2018
HOUSTON WIRE & CABLE (HWCC)
Last houston wire & cable earnings: 11/9 07:30 am
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houwire.com
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Source: GlobeNewswire
HOUSTON, March 14, 2019 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ: HWCC) (the “Company”) announced operating results for the fourth quarter and year ended December 31, 2018. Fourth Quarter 2018 Highlights Net income of $1.6 million, or $0.10 per diluted shareSales growth of 7.0% to $87.9 millionOperating income of $3.2 million, increase of $0.2 million Full Year 2018 Highlights Net income of $8.6 million, or $0.52 per diluted shareSales of $356.9 million, up 12.3%Gross margin of 23.9%, improvement of 100 basis pointsOperating expense to sales of 20.0%, improvement of 140 basis pointsOperating income of $13.9 million, increase of $9.3 millionCash from operating activities of $5.3 million Fourth Quarter Summary James Pokluda, President and Chief Executive Officer commented, “We are pleased that the upward momentum we experienced in the third quarter continued into the fourth quarter. This marks the eighth consecutive quarter with year-over-year growth since Q4 2016
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