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4-Traders Homepage  >  Equities  >  Nasdaq  >  Encore Wire Corporation    WIRE

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Encore Wire : Encore Wire Celebrates Rod Production Milestone

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01/12/2007 | 06:21pm CET

Encore Wire Corporation (NASDAQ/NMS:WIRE) announced today that the Company's Rod Mill recently eclipsed the two billion pound mark of copper rod produced since the mill commenced operations in June of 1998. Copper rod is rolled to a 5/16-inch diameter from molten copper and is the raw material consumed in the Company's wire mills to make building wire.

Commenting on the announcement, Daniel L. Jones, Company President and Chief Executive Officer said, ?We are very proud of our Rod Mill team and the milestone they have achieved. This achievement points out what a sound investment the Rod Mill has been. Prior to building the Rod Mill, we purchased rod to make wire, as most of Encore's building wire competitors still do today. The vertical integration we achieved by producing our own rod has resulted in significant cost savings. This vertical integration has been economically enhanced due to our single location manufacturing strategy, which eliminates the cost of shipping to multiple wire plants across the country. Our strong balance sheet and access to financing has enabled us to fund the Rod Mill and other cost saving projects. Beyond the facility itself, the key has been our industrious team of employees who run the equipment at exceptional efficiency levels. On behalf of the Board of Directors and our stockholders we congratulate the employees on an outstanding performance. We will continue to seek profit enhancing efficiencies in all segments of our operations.?

Encore Wire Corporation manufactures a broad range of electrical wire for interior wiring in homes, apartments, manufactured housing and commercial and industrial buildings.

The matters discussed in this news release, other than the historical financial information, including statements about the copper pricing environment, profitability and stockholder value, may include forward-looking statements that involve risks and uncertainties, including fluctuations in the price of copper and other raw materials, the impact of competitive pricing and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. Actual results may vary materially from those anticipated.


© Business Wire 2007
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Financials ($)
Sales 2016 935 M
EBIT 2016 44,9 M
Net income 2016 35,8 M
Debt 2016 -
Yield 2016 0,18%
P/E ratio 2016 26,28
P/E ratio 2017 16,29
Capi. / Sales 2016 1,00x
Capi. / Sales 2017 0,91x
Capitalization 937 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 42,3 $
Spread / Average Target -6,3%
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NameTitle
Daniel L. Jones Chairman, President & Chief Executive Officer
Frank J. Bilban CFO, Secretary, Treasurer & Vice President
Donald Eugene Courtney Director
Scott D. Weaver Independent Director
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