Houston Wire & Cable Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net income of $1,947,000 or $0.12 per basic and diluted share against loss of $453,000 or $0.03 per basic and diluted share a year ago. Sales were $85,026,000 against $78,709,000 a year ago. Operating income was $3,270,000 against loss of $250,000 a year ago. Income before income taxes was $2,626,000 against loss of $700,000 a year ago. Net cash used in operating activities was $6,084,000 against $10,477,000 a year ago. Expenditures for property and equipment were $452,000 against $930,000 a year ago. The first quarter of 2018 is the third quarter in a row of improving operational performance and is much improved from the difficult operating environment of 2016 in the first half of 2017.

For the year, capital expenditures expected to be a total 2018 spend of approximately $2 million.