General Cable Corp. Bottom Line Drops 11% In Q2

(RTTNews) - General Cable Corp. (BGC) announced a profit for second quarter that retreated compared to the same period last year.

The company said its earnings declined to $49.0 million, or $0.30 per share. This was down from $55.0 million, or $0.36 per share, in last year's second quarter.

Analysts had expected the company to earn $0.31 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.8% to $0.99 billion. This was down from $1.11 billion last year.

General Cable Corp. earnings at a glance:

-Earnings (Q2): $49.0 Mln. vs. $55.0 Mln. last year. -Earnings Decline (Y-o-Y): -10.9% -EPS (Q2): $0.30 vs. $0.36 last year. -EPS Decline (Y-o-Y): -16.7% -Analysts Estimate: $0.31 -Revenue (Q2): $0.99 Bln vs. $1.11 Bln last year. -Revenue Change (Y-o-Y): -10.8%

-Guidance: Next quarter EPS guidance: $0.10 - $0.30