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ENCORE WIRE REPORTS FIRST QUARTER FINANCIAL RESULTS

 MCKINNEY, Texas, April 30 /PRNewswire/ -- Encore Wire Corporation (NASDAQ-NMS: WIRE) today reported net sales and earnings for the fiscal quarter ended March 31, 1993. Net sales for the first quarter of 1993 were $17,176,913, compared to $12,798,085 for the first quarter of 1992, an increase of 34 percent. The increase in net sales was achieved despite the previously announced loss of a significant customer in February 1993 which accounted for approximately 26.8 percent of Encore Wire's net sales in fiscal 1992.
 Net income for the first quarter of 1993 was $501,860, compared to $639,862 in the first quarter of 1992, a decrease of 22 percent. The decline in net income was largely a result of competitive product price reductions. As a result, Encore Wire's first quarter 1993 earnings per share were $0.09, based on common and common equivalent shares of 5,895,807, compared to $0.14, based on common and common equivalent shares of 4,602,817 for the comparable period in 1992.
 Encore Wire, based in McKinney, is a manufacturer of copper electrical wire, principally non-metallic sheathed cable for interior wiring in homes, apartments and manufactured housing.
 -0- 4/30/93
 /CONTACT: Vincent A. Rego of Encore Wire Corporation, 817-469-9473/
 (WIRE)


CO: Encore Wire Corporation ST: Texas IN: SU: ERN

SH -- NY033 -- 3120 04/30/93 10:30 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
Words:229
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