Houston Wire & Cable Company Reports Results for the Fourth Quarter and Year Ended December 31, 2011

2012-3-19

Houston Wire & Cable Company (NASDAQ: HWCC) (the "Company") announced operating results for the fourth quarter and year ended December 31, 2011.

Selected highlights for 2011 compared to the prior year:

Sales of $396.4 million increased 28.5% from $308.5 million.

Gross margin at 22.4%, increased 210 basis points from 20.3%.

Net income of $19.7 million, increased 128.3% from $8.6 million.

Debt reduced by $6.8 million or 12.5% to $48.0 million from $54.8 million.

Diluted EPS of $1.11 increased 126.5% from $0.49 per share.

Declared dividends totaling $0.355 cents per share, an increase of 4.4% from $0.34 cents per share.

Selected highlights for the fourth quarter of 2011 compared to the prior year period:

Record operating cash flow of $15.1 million, increased 475.2% from $2.6 million.

Debt reduced by $13.2 million or 21.6% to $48.0 million from $61.2 million.

Gross margin at 22.8%, increased 170 basis points from 21.1%.

Net income of $3.1 million, increased 5.1% from $2.9 million.

Diluted EPS of $0.17 increased 6.3% from $0.16 per share.

Declared a dividend of $0.09 cents per share, an increase of 5.9% from $0.085 cents per share.