Houston Wire & Cable Co. (NASDAQ: HWCC), Houston, TX, reported sales for 2016 of $261.6 million, a 15.1 percent decrease from 2015. The company reported a loss of $6 million, compared to a profit of $2 million in 2015.
For the year, MRO sales increased 1 percent while project sales decreased 34 percent on a metals adjusted basis.
Fourth-quarter sales were $69.3 million, a 1.5 percent decrease from the same period the previous year. The company reported a loss of $1.8 million, compared with a loss of $0.2 million in 4Q 2015.
For the quarter, MRO sales grew 7 percent, or 9 percent on a metals adjusted basis, while project sales decreased 51 percent, or 49 percent on a metals adjusted basis.
