Encore Wire Sales Up 8% in 2013 - Modern Distribution Management

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Encore Wire Sales Up 8% in 2013

Encore Wire's profit doubles for both quarter, year.

Encore Wire Corporation (NASDAQ Global Select: WIRE), McKinney, TX, reported full year sales for 2013 of $1.2 billion, an increase of 8 percent from 2012. Profit doubled to $46.9 million from $19.8 million the previous year.

Fourth quarter sales were $293.5 million, an increase of 13.8 percent from the same period the previous year. Profit increased to $11.2 million from $5.2 million in the fourth quarter of 2012.

“Unit volumes were up in all building wire products," said Daniel L. Jones, president and CEO of Encore. "We believe our expansion of product offerings to our existing customer base over the last several years has been critical to maintaining and perhaps boosting our market share, as our capital expenditures help to drive increased sales." 

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