Asia Pacific Wire & Cable (AWRCF.OB) Posts Solid Nine-Month Figures

QualityStocks would like to highlight Asia Pacific Wire & Cable (OTCBB: AWRCF). The company, through its operating subsidiaries, is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable, and enameled wire products, in the Asia Pacific region, primarily in Singapore, Thailand, Australia, and China.

In the company’s news yesterday,

Asia Pacific Wire & Cable Corp. reported its unaudited consolidated results for the nine-month period ended September 30, 2010, reflecting strong demand for its enameled wire and power cable products in Thailand and China.

Revenues for the nine-month period were $325.2 million, a 28.8-percent increase over the $252.4 million reported for the comparable nine-month period of 2009.

For the nine-month period of 2010, the company posted gross profit of $40.8 million, a 27.5-percent increase from $32.0 million reported in the same period a year ago; gross margins were 12.5 percent for the nine-month period of 2010 versus 12.7 percent in 2009.

Asia Pacific reported net income attributable to shareholders at $11.1 million, or $0.80 per basic and diluted earnings per share, for the nine-month period ended September 30, 2010, a 91.4 percent increase from $5.8 million, or $0.42 basic and diluted earnings per share, in the same period a year ago.

Operating income for the nine-months ended September 30, 2010, was $19.8 million, a 104.1-percent increase compared to $9.7 million reported in the year-ago period.

As of September 30, 2010, Asia Pacific had $50.1 million in cash and cash equivalents, compared to $41.5 million as of December 31, 2009. Total current assets were reported at $294.4 million as of September 30, 2010, compared to $239.0 million at the end of 2009.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.