By Jack Keough
Coleman Cable, a manufacturer of electrical and electronic wire and cable products, said yesterday that sales for its second quarter increased to $231.2 million, up 5.2% compared to the same quarter last year.
The company recorded earnings per share of $0.44 per diluted share, up 76.0 percent versus $0.25 for the second quarter of last year, and up from $0.21 for the first quarter of 2012.
Coleman Cable also declared a quarterly cash dividend of $0.02 per common share, payable on August 31, 2012, to stockholders of record as of the close of business on August 15, 2012.
For the third quarter of 2012, the company estimates sales between $235 million and $245 million and Adjusted EPS between $0.33 and $0.51.
In releasing its quarterly earnings statement, President and CEO Gary Yetman said, “We executed well during the second quarter of 2012, generating earnings that exceeded our outlook for the quarter and which represented strong growth over both the second quarter of last year and the first quarter of 2012. This significant improvement reflects a number of favorable factors, including continued volume growth across a number of our businesses, particularly with respect to our new industrial product offerings, improved marketplace pricing and contributions from our recently-acquired businesses.”Tagged with lighting, tED