Electrical wire manufacturer Coleman Cable Inc., Waukegan, Ill., reported that its second-quarter profit plunged 79 percent from the second quarter 2007. The company’s earnings were hurt by restructuring costs, increased prices of raw materials and other general expenses.
Coleman Cable’s net income for the period fell to $843,000 from $4.1 million in the prior-year period. Excluding one-time items, the company earned $2.6 million for the quarter, compared with $4.2 million a year earl
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