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International Wire Group Holdings Inc. (OTC Pink: ITWG) Camden, NY, reported sales for the third quarter of $184.1 million, an increase of 7.7 percent compared to the same period a year ago. Profit decreased 16 percent to $4.2 million.
“Total third-quarter 2013 pounds shipped increased by 4.2 percent over third quarter 2012 levels, but results were mixed for our major markets. Sales were higher in the automotive/specialty vehicles, consumer and appliance, electronics/data communications and medical device markets, but declined in the aerospace, medical electronics, industrial/energy and European markets. Demand for our silver-plated and tin-plated products, as well as those used in mining applications, remained soft,” Rodney Kent, CEO, said.
For the first nine months, sales were $582.4 million, an increase of 1.8 percent compared to the same period a year ago. Profit decreased 25.1 percent to $13.4 million.