Tag - WIRE

Coleman Cable, Inc. (Nasdaq:CCIX) CEO Gary Yetman said volatility in the copper market, continued weakness in residential construction and general market uncertainty have hurt the maker of electrical wire and cable’s bottom line. Yetman said the Waukegan, Ill.-based firm is also experiencing inflationary pressures due to higher fuel and PVC costs. The expense pressures have been “somewhat offset” by price increases and cost-saving initiatives, he said. Yetman made the comments during a midday conference call.

For the first quarter of 2008, Coleman said in a statement that it expects revenue between $245 million and $255 million. First-quarter earnings are projected to range from $0.15 to $0.24 per share.

If the market remains calm, the CEO said he anticipates an uptick during the second half of 2008.

“Based on stable market conditions and the benefit from the synergies of our acquisitions and our cost-saving initiatives, we would expect consistent performance in the second quarter of 2008 and would then anticipate an uptick in the second half of the year from the projected benefits of the acquisition of [electrical products maker Woods Industries Inc.],” Yetman said.

After Thursday’s close, Coleman Cable reported fourth-quarter revenue of $254.3 million, up 146% from $103.2 million a year earlier. Wall Street analysts anticipated $227.4 million in revenue.

For the three months ended Dec. 31, Coleman’s net income was $4 million, or $0.24 per share, compared with $1.7 million, or $0.12 per share, during . . .