HWC Sees Sales and Profits Suffer in 2009 but Enjoys Increases in Target Markets

Declines in demand and the drop in copper pricing during 2009 pushed Houston Wire & Cable's 2009 sales and profits sharply lower last year. The Houston-based wire specialists had a 2009 sales decline of 29.4 percent to $254.8 million and a 38.2 percent-decrease in gross profit to $53 million. However, the company did enjoy an increase in sales within its five internal growth initiatives --utility power generation, environmental compliance, engineering and construction, industrials, and its LifeGuard product line and other private branded products. Details