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General Cable 2Q sales may beat Wall Street expectations

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April 29, 2008

HIGHLAND HEIGHTS, Ky.—Cable and wire products company General Cable Corp. said Tuesday it expects second-quarter earnings of $1.20 to $1.30 per share on sales of $1.7 to $1.8 billion.

Analysts, on average, forecast profit of $1.39 per share on sales of $1.64 billion, according to a poll by Thomson Financial. Analysts typically exclude one-time items from their estimates.

The company said new products and expanding into new markets is "more than offsetting weakness in certain product lines in the developed economies." The company added that second-quarter profit will be higher despite rising copper and other raw material prices.

General Cable's shares fell 27 cents to $70.12 in after-hours trading. The stock closed at $70.39 in the regular session.

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