* Q2 EPS $0.45 vs $0.59 yr-ago
* Net sales up 7 pct
* Sees Q3 EPS $0.43-$0.55
* Sees Q3 rev $1.15 bln-$1.2 bln
Aug 2 (Reuters) - General Cable Corp, which makes copper, aluminium and fiber optic wire and cable products, posted a 24 percent drop in quarterly profit hurt by higher expenses and a fall in Europe and Mediterranean revenue.
The company forecast third-quarter earnings of 43 cents a share to 55 cents a share, on revenue of about $1.15 billion to $1.20 billion.
Analysts on average were expecting earnings of 54 cents a share, before special items, on revenue of $1.18 billion, according to Thomson Reuters I/B/E/S.
For the second quarter, the company posted net income of $23.8 million, or 45 cents a share, compared with $31.3 million, or 59 cents a share, a year ago.
Excluding items, the company earned 54 cents a share.
Net sales rose 7 percent to $1.2 billion. However, Europe and Mediterranean revenue fell 8 percent.
Operating expenses rose 4 percent.
Analysts on average had expected earnings of 58 cents a share, before special items, on revenue of $1.25 billion, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $28.11 Monday on the New York Stock Exchange.
(Reporting by Divya Sharma in Bangalore; Editing by Roshni Menon) Keywords: GENERALCABLE/ (divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Net sales up 7 pct
* Sees Q3 EPS $0.43-$0.55
* Sees Q3 rev $1.15 bln-$1.2 bln
Aug 2 (Reuters) - General Cable Corp, which makes copper, aluminium and fiber optic wire and cable products, posted a 24 percent drop in quarterly profit hurt by higher expenses and a fall in Europe and Mediterranean revenue.
The company forecast third-quarter earnings of 43 cents a share to 55 cents a share, on revenue of about $1.15 billion to $1.20 billion.
Analysts on average were expecting earnings of 54 cents a share, before special items, on revenue of $1.18 billion, according to Thomson Reuters I/B/E/S.
For the second quarter, the company posted net income of $23.8 million, or 45 cents a share, compared with $31.3 million, or 59 cents a share, a year ago.
Excluding items, the company earned 54 cents a share.
Net sales rose 7 percent to $1.2 billion. However, Europe and Mediterranean revenue fell 8 percent.
Operating expenses rose 4 percent.
Analysts on average had expected earnings of 58 cents a share, before special items, on revenue of $1.25 billion, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $28.11 Monday on the New York Stock Exchange.
(Reporting by Divya Sharma in Bangalore; Editing by Roshni Menon) Keywords: GENERALCABLE/ (divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.