Asia Pacific Wire & Cable Corp. is a leading manufacturer and distributor of telecommunications and power cable and enameled-wire products in the Asia-Pacific region, with a primary focus on China, Thailand, Singapore and Australia. The company today reported its unaudited consolidated results for the nine-month period ended September 30, 2010, reflecting strong demand for its enameled wire and power cable products in Thailand and China.
Revenues for the nine-month period were $325.2 million, a 28.8-percent increase over the $252.4 million reported for the comparable nine-month period of 2009.
For the nine-month period of 2010, the company posted gross profit of $40.8 million, a 27.5-percent increase from $32.0 million reported in the same period a year ago; gross margins were 12.5 percent for the nine-month period of 2010 versus 12.7 percent in 2009.
Asia Pacific reported net income attributable to shareholders at $11.1 million, or $0.80 per basic and diluted earnings per share, for the nine-month period ended September 30, 2010, a 91.4 percent increase from $5.8 million, or $0.42 basic and diluted earnings per share, in the same period a year ago.
Operating income for the nine-months ended September 30, 2010, was $19.8 million, a 104.1-percent increase compared to $9.7 million reported in the year-ago period.
As of September 30, 2010, Asia Pacific had $50.1 million in cash and cash equivalents, compared to $41.5 million as of December 31, 2009. Total current assets were reported at $294.4 million as of September 30, 2010, compared to $239.0 million at the end of 2009.
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