Houston Wire & Cable Company Reports Results for the Quarter Ended March 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, May 10, 2018 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ:HWCC) (the “Company”) announced operating results for the first quarter ended March 31, 2018. Selected quarterly results were: Sales of $85.0 million up 8.0% over 2017Gross margin of 24.1% up 260 basis points from the prior yearOperating income of $3.3 million compared to a loss of $0.3 million in 2017Net income of $2.0 million compared to a net loss of $0.5 million in 2017Diluted EPS of $0.12 First Quarter Summary Jim Pokluda, President and Chief Executive Officer commented, “We were pleased to post our third consecutive quarter of year-over-year revenue growth, as the upward momentum we experienced in the last half of 2017 continued into the first quarter of 2018. We believe that higher metals prices in 2018 were the primary contributors to the increase in sales. We estimate sales for our project business, which targets end markets for Utility Power Generation, Environmental Compliance, Engineering &
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