General Cable eyes pickup after loss
Feb 25, 2013 | 04:42 PM
| Michael Cowden
Tags
General Cable,
Gregory Kenny,
quarterly earnings,
Alcan Cable North America,
Alcan Cable China,
Prestolite Wire,
Gregory Lampert,
Peter Campbell
Michael Cowden
CHICAGO — General Cable Corp. is hoping for a rebound in the second quarter after a weak start to 2013 following a net loss at the end of 2012.
"Ongoing recessionary conditions" in Europe hurt the company’s fourth-quarter results, and the region is expected to continue to drag on its performance in the first quarter, the copper, aluminum, and fiber-optic wire and cable products company said in an outlook accompanying earnings data released Feb. 25.
The Highland Heights, Ky.-based company also expects its results to be hurt by a $42-million charge related to the devaluation of Venezuela’s currency.....
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