In an earnings call transcript published today for Encore Wire Corp., McKinney, Texas, at www.seekingalpha.com, Daniel Jones, Encore Wire's president and CEO, said the company had strong quarterly earnings in a turbulent economy despite the “severe recession currently taking place in the construction industry.”
While Jones also said in the call that business conditions were mixed in different regions across the United States, overall he had a positive outlook. He said business conditions in the Pacific Northwest were good, that “West Coast California, Southern Cal, Northern Cal are okay,” and that the Carolinas, Georgia and Florida are “pretty good.” “The Northeast is good, and in Texas I don't know that we saw as big a dip as anyone else in construction activity, but we seem to be a little insulated from the bottoms,” he added. “Texas, Oklahoma, New Mexico are still going along pretty well.
“But just in general the feel is, we are a lot busier. Activity level in the sales office is up, but that's a combination of we are requiring a little bit more information in trying to get a little bit quicker in the process. But overall there are some pretty nice projects out there; it just takes a little harder work to win those.”
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Jim Lucy Blog
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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.