(EMAILWIRE.COM, March 10, 2011 ) New York, NY -- Coleman Cable, Inc. (NASDAQ:CCIX) announced fourth fiscal quarter results on Monday after the market closed that were mostly in line with street estimates , despite rapidly rising copper prices.
To Receive Free Stock Alerts, including penny stocks, Pharmaceutical and Biotech Stocks, Oil, and Gold Stocks - visit http://www.EpicStockPicks.com
The Company reported fourth fiscal quarter net income of $1.3 million or 8 cents a share compared to the net loss of $3.33 million or 20 cents a share in the same quarter last year.
On an adjusted basis, excluding $393,000 of restructuring charges, a $122,000 loss related to an asset impairment, a $174,000 foreign currency gain and $859,000 of share-based compensation expense, the company reported adjusted earnings of $0.12 per share, a 20% increase versus 10 cents a share last year and broadly in line with analysts' estimate of 12 cents a share.
Revenue during the quarter rose 32.88% year over year to $186.175 million from $140.103 million in the same quarter last year, above the consensus estimate of $174.09 million. EBITDA of $14.7 million has been posted for the quarter compared to the street estimate of $14.6 million.
The Company had guided for fourth fiscal quarter of revenue $160 million to $180 million, EBITDA of $12.5 million to $16.5 million and earnings per share of $0.04 to $0.18.
For the first quarter of 2011, the Company expects revenue of $190 to $200 million, adjusted EBITDA between $16.5 and $18.5 million and adjusted earnings between $0.18 and $0.27. The street was expecting revenue of $179.6 million, EBITDA of $15.6 million and EPS of $0.15. This outlook is based on better volume levels, higher copper prices, higher capacity utilization and leverage from past cost-cutting measures.
Shares of a designer, developer, manufacturer and supplier of electrical wire and cable products for consumer, commercial and industrial applications, with operations primarily in the United States and, to a lesser degree, Canada went up by 87 cents or 11.79% to $8.25 after reporting adjusted fourth fiscal quarter EPS of $0.12 on revenue of $186.2 million.
The stock made new annual high of $8.72 yesterday, its annual low being $4.14. Volume of 213,601 shares has been traded. The market capitalization of the stock stands at $143.09 million with P/E of 37.98 and beta of 1.29.
Epic Stock Picks provides free Penny stock newsletters on various stocks including penny stocks of the day. EpicStockPicks.com team of experts delve into the micro and small-cap world of stocks, including big board pennies, searching for equities that are undervalued, yet show great promise of future growth.
EpicStockPicks.com will not be responsible for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from Epic Stock Picks' website or emails.
http://www.EpicStockPicks.com does its best to verify, but does not guarantee the topicality, correctness, completeness and quality of information and statements presented on its website and emails. EpicStockPicks.com s company officers are not registered investment advisors and do not recommend to buy, hold, or sell any securities. EpicStockPicks.com simply provides information and ideas to investors as they gather investment information. The onus is on viewers to complete their own due diligence. EpicStockPicks.com viewers should always make their own financial decisions.
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/press_release_distribution_lists.php.