General Cable Corp. Profit Retreats 14% In Q1

(RTTNews) - General Cable Corp. (BGC) announced earnings for first quarter that declined compared to the same period last year.

The company said its profit dropped to $41.6 million, or $0.19 per share. This was lower than $48.4 million, or $0.35 per share, in last year's first quarter.

Analysts had expected the company to earn $0.02 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.1% to $0.97 billion. This was down from $1.17 billion last year.

General Cable Corp. earnings at a glance:

-Earnings (Q1): $41.6 Mln. vs. $48.4 Mln. last year. -Earnings Decline (Y-o-Y): -14.0% -EPS (Q1): $0.19 vs. $0.35 last year. -EPS Decline (Y-o-Y): -45.7% -Analysts Estimate: $0.02 -Revenue (Q1): $0.97 Bln vs. $1.17 Bln last year. -Revenue Change (Y-o-Y): -17.1%

-Guidance: Next quarter EPS guidance: $0.15 - $0.35 Next quarter revenue guidance: $0.95 - $1.00 Bln