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Coleman Cable Sees 3Q YTY Sales Sag But Nice Boost in Quarterly Total Pounds Shipped

Nov. 11, 2009
While 3Q YTY sales for Coleman Cable Inc., Waukegan, Ill., sagged just over 50%, the company enjoyed a double-digit increase over 2Q 2009 in volume, as measured in total pounds shipped. Said Gary Yetman, president and CEO, "While still significantly ...

While 3Q YTY sales for Coleman Cable Inc., Waukegan, Ill., sagged just over 50%, the company enjoyed a double-digit increase over 2Q 2009 in volume, as measured in total pounds shipped. Said Gary Yetman, president and CEO, "While still significantly below 2008 levels, we are encouraged by continued stability in our volumes, which, measured in total pounds shipped, increased 10.5 percent on a sequential basis from the second quarter of 2009. We continue to believe that the improvements we have made in our business during the past year have us well positioned to benefit as the U.S. economy rebounds.

"Our outlook remains cautious, however, as we believe economic conditions will remain challenging in the near term, and our results are likely to continue to be impacted by pricing pressures resulting from excess industry capacity and weak overall demand. These issues may be more prevalent in the fourth quarter where, relative to other quarters, industry-wide demand levels have historically been lower. Additionally, our visibility of when we may experience a sustained period of volume growth remains limited.”

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