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ENCORE WIRE REPORTS FINANCIAL RESULTS FOR THIRD QUARTER

 ENCORE WIRE REPORTS FINANCIAL RESULTS FOR THIRD QUARTER
 MCKINNEY, Texas, Oct. 22 /PRNewswire/ -- Encore Wire Corporation (NASDAQ-NMS: WIRE) today reported net sales and earnings for its third fiscal quarter ended Sept. 30, 1992.
 Net sales for the third quarter of 1992 were $15,486,523, up 70 percent from the comparable period in 1991, but down 11 percent from the second quarter of 1992. Net income was $834,643, up from $830,916 in the third quarter of 1991 but down from net income of $1,109,371 in the second quarter of 1992.
 For the first nine months of the year, Encore reported net sales of $45,756,909 compared with net sales of $21,631,758 in the first nine months of 1991, an increase of 112 percent. Net income for the first nine months of 1992 was $2,583,876, compared with $1,139,410 for the like period in 1991.
 Encore reported earnings per share for the first nine months of 1992 of $0.52 compared to $0.29 per share for the first nine months of 1991. Third quarter earnings per share of $0.15 based on weighted average common and common equivalent shares of 5,731,000, compare with $0.21 based on weighted average common and common equivalent shares of 3,928,000 in the comparable quarter of 1991.
 Vincent A. Rego, Encore's chairman stated, "The third quarter results were well below the company's expectations due to unprecedented price competition in the marketplace. Copper prices during the quarter remain volatile and unpredictable."
 Mr. Rego also said, "The company's marketing program has been enhanced by the addition of several new manufacturers' representatives as well as the opening of new manufacturers' representatives' warehouses in the United States. The company is in the midst of a significant plant expansion and the installation of new manufacturing equipment in order to increase capacity. Both should be complete and operational by the end of December 1992."
 Encore Wire Corporation manufactures copper electrical wire, principally non-metallic sheathed cable for interior wiring of homes, apartments, and manufactured housing.
 -0- 10/22/92
 /CONTACT: Vincent A. Rego, chairman of the board of Encore Wire Corporation, 214-548-9473/
 (WIRE) CO: Encore Wire Corporation ST: Texas IN: CST SU: ERN


CK -- NY061 -- 3451 10/22/92 10:43 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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