General Cable Reports Second Quarter Results and Declares $0.09 Dividend

General Cable Corporation

reported today results for the second quarter ended July 2, 2010. Diluted earnings per share for the second quarter of 2010 were $0.45. Included in these results was $0.09 per share of non-cash convertible debt interest expense. Before the impact of this item, adjusted non-GAAP earnings per share for the second quarter of 2010 would have been $0.54. Highlights -- Reported revenues and adjusted earnings per share of $1.2 billion and $0.54, respectively, both within the range of management's expectation -- Seasonal demand patterns re-emerge, lifting sequential volume as measured in metal pounds sold by 8.8% as compared to the first quarter -- Substantially completed negotiations with the works councils of our various operations in Spain to permanently reduce manufacturing personnel -- Expanded presence in emerging markets as strategic investments in India, Peru, Mexico, South Africa and Pakistan progress