General Cable Corp. (NYSE: BGC), Highland Heights, KY, reported sales for the first quarter of $1.43 billion, up 7 percent year over year. Profit decreased 33 percent to $26.3 million.
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Volume based on metal pounds sold increased 3 percent in the first quarter of 2012 compared to 2011 principally due to global aerial transmission product shipments. Sequentially, volume based on metal pounds sold increased 6 percent principally due to improved demand in most North American and European businesses.
In North America, volume as measured in metal pounds sold increased 7 percent in the first quarter of 2012 compared to the first quarter of 2011 and was up 10 percent sequentially when compared to the fourth quarter of 2011. Excluding aerial transmission product shipments, North America volume increased 2 percent year over year and 14 percent sequentially.
In ROW, volume as measured in metal pounds sold increased 2 percent in the first quarter of 2012 compared to the first quarter of 2011 and was down 6 percent sequentially when compared to the fourth quarter of 2011. Excluding metal pounds attributable to aerial transmission project shipments in Brazil, volume was flat year over year and decreased sequentially 8 percent as compared to the fourth quarter of 2011.
In Europe and Mediterranean, volume as measured in metal pounds sold decreased 1 percent in the first quarter of 2012 compared to the first quarter of 2011 and was up 23 percent sequentially when compared to the fourth quarter of 2011. Sequentially, the first quarter of 2012 reflects stronger demand for medium and high voltage cables in France and the supply of offshore specialty cables in Germany.
