Encore's net slides due to tighter wire margins
Jul 28, 2014 | 10:00 AM
| Saranya Kapur
NEW YORK Encore Wire Corp.s second-quarter earnings fell 34.5 percent year on year even as sales rose 6.1 percent.
Net income totaled $10.1 million for the quarter on sales of $307.1 million.
"The spread between the price of copper wire sold and the cost of raw copper decreased 9.9 percent in the second quarter of 2014 vs. the second quarter of 2013, while our copper unit volume shipped in the second quarter....
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