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GENERAL CABLE RESTATES THIRD QUARTER RESULTS FOR MARATHON SALE

 HIGHLAND HEIGHTS, Ky., Nov. 10 /PRNewswire/ -- General Cable Corporation (NASDAQ: GENC) reported in connection with the previously announced sale of net assets of its Marathon LeTourneau Company subsidiary that it has reclassified the Marathon subsidiary as a discontinued business operation and has modified previously announced third quarter results of operation to account for the proposed transaction. In addition, General Cable anticipates that it will incur a book loss on the disposition of $31.3 million, which will be charged against income in the third quarter of 1993.
 General Cable manufactures and markets electrical, electronic and telecommunications wire and cable under the Carol Cable, Capital Wire & Cable, Romex, Saturday's Helper, Philadelphia Insulated Wire and General Cable brand names for the construction, consumer, automotive, original equipment manufacturer, and telecommunications markets.
 Carol Cable, Romex, Saturday's Helper, and General Cable are registered trademarks of General Cable Corporation.
 GENERAL CABLE CORPORATION
 (In Millions, Except Per Share Amounts)
 SUMMARY FINANCIAL INFORMATION
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net sales $196.6 $203.6 $563.9 $588.8
 Operating income (loss) $ .1 $ (4.3) $ (5.5) $(19.8)
 Interest expense $ (7.3) $ (7.4) $(21.7) $ (7.4)
 Income (loss) from
 continuing operations
 before cumulative
 effect of accounting
 change $ (7.4) $(12.7) $(27.0) $(28.3)
 Cumulative effect of
 accounting change --- --- --- $ 7.5
 Income (loss) from
 continuing operations $ (7.4) $(12.7) $(27.0) $(20.8)
 Discontinued operations:
 Income (loss) from
 discontinued operations $ .2 $ (.8) $ 2.5 $ (3.8)
 Loss on sale of
 discontinued operations $(31.3) --- $(31.3) ---
 Net income (loss) $(38.5) $(13.5) $(55.8) $(24.6)
 Average common shares
 outstanding 13.0 13.0 13.0 (A)
 Per common share:
 Income (loss) from
 continuing operations $ (.57) $ (.98) $(2.08) (A)
 Income (loss) from
 discontinued operations $(2.39) $ (.06) $(2.21) (A)
 Net income (loss) $(2.96) $(1.04) $(4.29) (A)
 (A) -- Not applicable as General Cable operated as a subsidiary of The Penn Central Corporation for the first six months of 1992.
 -0- 11/10/93
 /CONTACT: Robert J. Siverd, senior vice president, of General Cable Corporation, 606-572-8890/
 (GENC)


CO: General Cable Corporation ST: Kentucky IN: SU: ERN

BM-KL -- CL004 -- 2590 11/10/93 08:42 EST
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Publication:PR Newswire
Date:Nov 10, 1993
Words:374
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