Loading price data...
Scrap Monster
Olympus-ims.com
XRF Spectro
Metal Stocks March 21, 2012 07:13:55 AM

US copper wire manufacturer International Wire Q4 earnings dip by 43%

Paul Ploumis
ScrapMonster Author
Fourth-quarter net income for US copper wire manufacturer International Wire fell nearly 43% due to lack of inventory liquidation at the end of the year.

WASHINGTON (Scrap Monster): Fourth-quarter net income for US copper wire manufacturer International Wire fell nearly 43% due to lack of inventory liquidation at the end of the year.

Fourth-quarter net income dipped to $3.6 million compared with $6.3 million in the fourth quarter of 2010 due to a lack of last-in, first-out out liquidation at the end of the year, the company said.

Total pounds of product sold in the fourth quarter of 2011 increased by 16.1% compared to the fourth quarter of 2010.

Full-year 2011 net income slipped slightly to $20.1 million compared with $20.5 million in 2010.

International Wire is the largest bare copper wire and copper wire products manufacturer in the United States with expanding operations in Europe.

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox