Asia Pacific Wire & Cable Corporation (NASDAQ:APWC)
Asia Pacific Wire & Cable Corporation Limited, announced unaudited consolidated results for the second quarter and first half ended June 30, 2011. APWC reported strong financial results in the second quarter and the first half of 2011 in spite of a slight decrease in the copper price. The majority of the Company's products and services are used in industrial, power and telecommunications infrastructure in the growing Asia-Pacific region. The Company revenues were $148.7 million, an increase of 40.3% from $106.0 million in the same period a year ago, and an increase of 22.1% from $121.8 million in the first quarter of 2011. Also the Company's gross profit increased to $16.4 million, an increase of 15.1% from $14.2 million from the second quarter of 2010, and 26.1% from $13.0 million in the prior quarter.
Asia Pacific Wire & Cable Corporation 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 Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products (?Distributed Products?) manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company (?PEWC?). The Company also provides project engineering services in the supply, delivery and installation (?SDI?) of power cables to certain of its customers.
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