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Soft copper prices pummel Houston Wire & Cable 2Q financials
Houston Wire & Cable Co., Houston said its sales in the second quarter of 2009 were $61.9 million, down six percent from the first quarter of 2009 and down 36.5 percent when compared to the second quarter of 2008. The key drivers behind this sales decline were reduced product demand and reduced copper prices, which fell by more than 40 percent from the average price in the second quarter of 2008. Management estimates that the decrease in copper prices accounted for approximately one-half of the sales decline. A company press release said after adjusting for copper deflation, Houston Wire & Cable’s MRO business declined by double digits, while sales from growth initiatives increased in the range of five percent to 10 percent.
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Electrical Marketing's LiveWire brings you breaking news, on-the-fly analysis and running commentary about the electrical products marketing channel from the editors of Electrical Marketing.
Industry Calendar
Sept. 20–22
IDEA E-Biz Forum
Dallas; IDEA; 703-562-4600;
www.idea-esolutions.com
Sept. 26–29
A-D Electrical Supply Division North American Meeting
Dallas; Affiliated Distributors (A-D)
610-977-3100; www.mya-d.net
Oct. 2-5
NECA Annual
Boston; National Electrical Contractors Association (NECA)
(301) 657-3110; www.necanet.org
Nov. 5-Nov. 6
NEMA 84th Annual Meeting
Palm Beach, Fla.; National Electrical Manufacturers Association (NEMA),
(703) 841-3200; www.nema.org
Nov. 8- Nov. 10
NAED Eastern Region Conference
Orlando; NAED,
(888) 791-2512; www.naed.org
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Industry Calendar
September 12-15
NECA Trade Show: Seattle; National Electrical Contractors Association, 301-657-3110,
www.necanet.org
September 22-24
IDEA E-Biz Forum 2009: Tucson, Ariz.; IDEA, 866-479-0484, www.idea-esolutions.com
October 14-17
AHTD Fall Meeting: Hilton Head, S.C.; Association for High-Technology Distribution, 800-488-4845, www.ahtd.org
October 17-19
IMARK National Meeting: San Antonio, Texas; IMARK, 301-567-8888;
www.imarkgroup.com
October 19-22
Solar Power 2009: San Jose, Calif.; Solar Energy Industry Association, 866-229-2386,
www.solarpowerconference.com
October 26-29
A-D Electrical Supply Division North American Meeting: Dallas; Affiliated Distributors, 610-977-3100,
mya-d.net
November 4-7
NAED Eastern Region Conference: New Orleans; NAED, 888-791-2512, www.naed.org
November 11-13
GreenBuild 2009: Phoenix; U.S. Green Building Council, 800-795-1747, www.usgbc.org
November 13–14
NEMA Annual Meeting/Illuminations Weekend
Scottsdale, Ariz.; National Electrical Manufacturers Association, 703-841-3200, www.nema.org/events |
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