General Cable Corp. Q3 Earnings Retreat 32%

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

The company said its bottom line declined to $32.1 million, or $0.07 per share. This was lower than $47.4 million, or $0.26 per share, in last year's third quarter.

Analysts had expected the company to earn $0.26 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 15.7% to $924.5 million. This was down from $1096.4 million last year.

General Cable Corp. earnings at a glance:

-Earnings (Q3): $32.1 Mln. vs. $47.4 Mln. last year. -Earnings Decline (Y-o-Y): -32.3% -EPS (Q3): $0.07 vs. $0.26 last year. -EPS Decline (Y-o-Y): -73.1% -Analysts Estimate: $0.26 -Revenue (Q3): $924.5 Mln vs. $1096.4 Mln last year. -Revenue Change (Y-o-Y): -15.7%

-Guidance: Next quarter EPS guidance: $0.05 - $0.20 Next quarter revenue guidance: $850 - $900 Mln