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Encore Wire Sales Increase 45% in Fourth Quarter

Encore Wire Corp. (NASDAQ: WIRE), McKinney, TX, reported sales for 2010 were $910.2 million, an increase of 40.1 percent from sales for 2009. Profit was $15.3 million, compared to year ago profit of $3.6 million.

For the fourth quarter ended Dec. 31, 2010, sales were $256.1 million, up 44.6 percent from the same period a year ago. Profit was $4.5 million versus a net loss of $1.9 million for fourth quarter of 2009.

Unit sales in the fourth quarter increased 6 percent versus the fourth quarter of 2009, while the average price per pound for building wire sold in the quarter increased by 36.3 percent. Copper prices rose 30.8 percent in the same period comparison.

Encore Wire Corp. 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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