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Encore Wire Sales Climb 43.9% in 3Q

Encore Wire Corp. (NASDAQ Global Select: WIRE), McKinney, TX, reported sales for the third quarter were $242.8 million, an increase of 43.9 percent over third quarter 2009. Profit was $5.1 million, compared to $0.3 million a year ago.

Higher prices for building wire accounted for most of the increase in sales dollars. Unit volume increased 12.5 percent during the quarter.

For the nine months ended Sept. 30, 2010, sales were $654.1 million, an increase of 38.4 percent over the same period a year ago. Profit increased 96.4 percent to $10.8 million. Unit volume during the period decreased 6.7 percent versus the prior year period.

Encore Wire manufactures a broad range of copper electrical wire for interior wiring in homes, apartments, manufactured housing and commercial and industrial buildings.

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