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

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 ...
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 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.”

Full release

About the Author

Jim Lucy Blog

Chief Editor

Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.

Related

Southwire
Southwire / Stinson
Illustration 60886103 / kheng ho to / Dreamstime.com
rep_appointment_illustration_60886103__kheng_ho_to