Houston Wire & Cable Co. (NASDAQ: HWCC), Houston, TX, reported sales for the second quarter of $99.3 million, an increase of 1.3 percent compared to the same period a year ago. Profit decreased 8.3 percent to $4.1 million.
Jim Pokluda, president and CEO, said, "We estimate maintenance, repair and operations (MRO) sales increased approximately 5 percent over the second quarter of 2012, while project business from our long-term growth initiatives encompassing environmental compliance, engineering & construction, industrials, LifeGuard (and other private branded products), utility power generation, and mechanical continued to suffer from a shortage of new large capital projects and was down approximately 5 percent from the prior-year period."
For the first six months, sales were $193.6 million, an increase of 0.6 percent compared to the same period a year ago. Profit decreased 6.2 percent to $7.9 million.