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International Wire Sales Down 1% in 2014

International Wire Group Holdings Inc. (OTC Pink: ITWG), Camden, NY, reported sales for 2014 of $766.5 million, a 1 percent decrease from 2013. Profit decreased 4.8 percent to $15.9 million.

Fourth quarter sales were $176.9 million, a 7.8 percent decrease from the same period the previous year. Profit for the quarter decreased 45.5 percent to $1.8 million.

"Sales were higher in the aerospace, automotive/specialty vehicles, electronics/data communications and medical device markets, but declined in the medical electronics, industrial/energy, consumer and appliance and European markets," said CEO Edwin J. Flynn. "Demand for our silver-plated and tin-plated products in the industrial/energy market, as well as those used in mining applications, remained soft.” 

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