BGC » Topics » GENERAL CABLE REPORTS RECORD SECOND QUARTER RESULTS

This excerpt taken from the BGC 8-K filed Jul 31, 2007.

GENERAL CABLE REPORTS RECORD SECOND QUARTER RESULTS



HIGHLAND HEIGHTS, KENTUCKY, July 31, 2007 – General Cable Corporation (NYSE: BGC) reported today revenues and earnings for the second quarter. Revenues were $1,172.5 million compared to $987.1 million in the prior year, an increase of 19%. Net income applicable to common shareholders for the second quarter of 2007 was $62.8 million compared to $41.4 million in the second quarter of 2006. Earnings per share for the second quarter of 2007 were $1.15, an increase of 44% from second quarter of 2006.


This excerpt taken from the BGC 8-K filed May 1, 2007.

GENERAL CABLE REPORTS RECORD FIRST QUARTER RESULTS



HIGHLAND HEIGHTS, KENTUCKY, May 1, 2007 – General Cable Corporation (NYSE: BGC) reported today revenues and earnings for the first quarter. Revenues were $1,009.2 million compared to $804.3 million in the prior year, an increase of 25%. Adjusted for the impact of charges related to the Company’s tender offer for substantially all of its $285 million 9.5% Senior Notes, net income applicable to common shareholders for the first quarter of 2007 was $53.6 million compared to net income of $21.3 million in the first quarter of 2006. Reported earnings per share for the first quarter of 2007 were $0.71. Excluding the impact of charges related to the Company’s tender offer for its $285 million Senior Notes, earnings per share on a diluted basis for the first quarter ended March 30, 2007 were $1.01 per share compared to $0.41 per share in the first quarter of 2006.


In the first quarter of 2007, the Company completed a tender offer for its $285 million 9.5% Senior Notes due 2010. As part of this tender, the Company recorded approximately $25.1 million in pretax charges or, $0.30 earnings per share on a diluted basis, principally related to the tender premium required to redeem the Notes early and the write-off of existing prepaid bank fees. In addition, the Company completed a private placement of $325 million of new Senior Notes, comprised of $200 million in aggregate principal amount of 7.125% Senior Fixed Rate Notes due 2017 and $125 million aggregate principal amount of Senior Floating Rate Notes due 2015. Proceeds of the new notes were used principally to finance the tender for the $285 million notes and resulted in an approximately 200 basis point reduction in the Company’s effective interest rate.


EXCERPTS ON THIS PAGE:

8-K
Jul 31, 2007
8-K
May 1, 2007
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