Encore Wire Corp., McKinney, Texas, saw a 13.7 percent drop in net sales for the first quarter of 2005 to $137.2 million compared to $158.9 million during the first quarter of 2004. The $158.9 million in net sales in the first quarter of 2004 is the quarterly record for Encore. Net income for the first quarter of 2005 was $1 million versus $13.3 million in the first quarter of 2004.
Results for the first quarter of 2005 include an adjustment to reduce deferred tax liabilities by appro
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