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Cable manufacturer General Cable Corporation (NYSE: BGC), Highland Heights, KY, reported sales for the first quarter of $1.4 billion, down 7.4 percent year-over-year. The company reported a loss of $315.4 million, compared to a loss of $45.8 million in the first quarter of 2013.
“We anticipated a sluggish seasonal start to the year but the uncertainty in Venezuela, the extreme winter weather in North America and declining copper prices had a pronounced impact on our first quarter results," said Gregory Kenny, president and CEO.
North America sales were down 15.6 percent, while Europe and Mediterranean sales were down 1.7 percent. Sales for the rest of the world were flat.