General Cable Corp. Profit Falls 34% In Q2

(RTTNews) - General Cable Corp. (BGC) announced earnings for second quarter that lost ground from last year.

The company said its bottom line dropped to $32.2 million, or $0.11 per share. This was down from $49.0 million, or $0.30 per share, in last year's second quarter.

Analysts had expected the company to earn $0.25 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.6% to $943.1 million. This was down from $1021.2 million last year.

General Cable Corp. earnings at a glance:

-Earnings (Q2): $32.2 Mln. vs. $49.0 Mln. last year. -Earnings Decline (Y-o-Y): -34.3% -EPS (Q2): $0.11 vs. $0.30 last year. -EPS Decline (Y-o-Y): -63.3% -Analysts Estimate: $0.25 -Revenue (Q2): $943.1 Mln vs. $1021.2 Mln last year. -Revenue Change (Y-o-Y): -7.6%