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General Cable Corp. (NYSE: BGC), Highland Heights, KY, reported full-year sales for 2014 of $6 billion, a decrease of 6.9 percent from 2013. The company reported a loss of $603.6 million in 2014, compared to a loss of $18.1 million in the previous year.
Fourth-quarter sales were $1.5 billion, a decrease of 6.9 percent year-over-year. The company reported a loss of $139.2 million, compared to a profit of $13.7 million from the same period a year ago.
“The sale of our interest in the Philippines marked a very important first step in executing on our divestiture program," said Gregory B. Kenny, president and CEO. He also stated that the restructuring in North America and Latin America, announced in the fourth quarter, are anticipated to generate approximately $15 million.