Encore Wire Corp. (NASDAQ Global Select: WIRE), McKinney, TX, reported sales for 2014 of $1.2 billion, an increase of 0.8 percent from the previous year. Profit decreased 20.9 percent to $37.1 million.
Fourth quarter sales were $285.3 million, a decrease of 2.8 percent from the same period the previous year. Profit decreased 54.5 percent to $5.1 million.
"Aluminum unit volumes were up strongly in the fourth quarter and the full year as we continue to grow that portion of our business," said Daniel L. Jones, president and CEO. "Copper wire units were also up in 2014 versus 2013. The overall construction and building wire markets did not show any significant improvement over last year. Anecdotal information confirms our belief that we are outperforming the industry in volume growth."
