Houston Wire & Cable Co. (NASDAQ: HWCC), Houston, TX, reported first quarter sales of $64.7 million, down 20.7 percent year-over-year. MRO sales decreased 18 percent while project sales decreased 27 percent.
The company reported a loss of $184 million in the quarter, compared to a profit of $2.2 million the prior year.
"Market conditions did not improve during the first quarter as demand levels were extremely inconsistent," said Jim Pokluda, president and CEO. "We continue to experience weak industrial activity and the impact of a depressed oil and gas market."
