Asia Pacific Wire & Cable 9-month Profit Declines - Quick Facts

(RTTNews) - Asia Pacific Wire & Cable Corporation Limited (APWC) reported net income attributable to shareholders of $0.3 million for the nine months of 2014, compared to $3.9 million in 2013. Net income per share was $0.02, compared to $0.28, a year ago.

Revenues were $338.7 million, up from $336.4 million in the prior year. Gross profit for the nine months ended September 30, 2014 declined by 19.1%. Gross margin was down by 18.5%, falling from 10.5% in the first nine months of 2013 to 8.5% in the current year.

The company also announced that the ROW region was awarded a public sector contract in the third quarter of 2014 of approximately $58 million. The company expects to initiate delivery in January 2015 and complete the contract by the third quarter of 2016.