General Cable Corporation (NYSE: BGC) has reported results for the third quarter ended September 29, 2017, the company said.
For the quarter, reported loss per share was USD 0.28 and reported operating income was USD 1 million inclusive of USD 27 million in non-cash charges primarily related to the sale of operations in China. Adjusted earnings per share and adjusted operating income were USD 0.25 and USD 43 million, respectively, for the quarter.
At the end of the third quarter of 2017 and the end of the fourth quarter of 2016, total debt was USD 1,091 million and USD 939 million, respectively, and cash and cash equivalents were USD 72 million and USD 101 million, respectively. The increase in net debt was principally due to investment in working capital, partly due to higher metal prices, and payments totaling USD 52 million related to our FCPA resolution through the first half of 2017.
About General Cable
General Cable, with headquarters in Highland Heights, Kentucky, is a global provider of the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, transportation, industrial, construction and specialty segments. General Cable is one of the largest wire and cable manufacturing companies in the world, operating manufacturing facilities in its core geographical markets, and has sales representation and distribution worldwide. For more information about General Cable visit www.generalcable.com.