General Cable Corporation (NYSE: BGC), one of the most globally diversified industrial companies, reported today results for the first quarter ended March 29, 2013. Each of the Company's three reportable segments performed as expected to start the year led by acquisitions and solid results in North America's base businesses. Excluding certain items, adjusted earnings per share of $0.23 and adjusted operating income of $46.2 million were within management's range of expectations for the first quarter of 2013. For the first quarter, reported operating income was $32.0 million and reported loss per share was $0.94, which principally reflects a charge of $0.80 per share related to the currency devaluation of the Venezuelan Bolivar in the first quarter. A reconciliation of adjusted earnings per share to reported loss per share and adjusted operating income to reported operating income is included on page 4 of this press release.
- Adjusted operating income of $46.2 million and adjusted earnings per share of $0.23 were within management's range of expectations for the first quarter
- Adjusted operating income in North America including acquisitions increased 25% sequentially and 45% year over year
- Demand for aerial transmission products in North America as measured in metal pounds sold increased 8% in the first quarter of 2013 as compared to the first quarter of 2012