-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ORS57RQWMVvporwkNQRCgwm7g2g7Zx86ThyTWHPbS4ng6FiB5JA7nnsjMjNmUPg5 Oby2L8tdCftnchh8N7C/Ug== 0000886035-06-000058.txt : 20060809 0000886035-06-000058.hdr.sgml : 20060809 20060809122025 ACCESSION NUMBER: 0000886035-06-000058 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060725 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060809 DATE AS OF CHANGE: 20060809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL CABLE CORP /DE/ CENTRAL INDEX KEY: 0000886035 STANDARD INDUSTRIAL CLASSIFICATION: DRAWING AND INSULATING NONFERROUS WIRE [3357] IRS NUMBER: 061398235 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-12983 FILM NUMBER: 061016157 BUSINESS ADDRESS: STREET 1: 4 TESSENEER DRIVE CITY: HIGHLAND HEIGHTS STATE: KY ZIP: 41076 BUSINESS PHONE: 8595728000 MAIL ADDRESS: STREET 1: 4 TESSENEER DRIVE CITY: HIGHLAND HEIGHTS STATE: KY ZIP: 41076 8-K/A 1 f200608098ka.htm 8-K/A General Cable Corporation



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549


FORM 8-K/A

(Amendment No. 1)


CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of Earliest Event Reported):  July 25, 2006


General Cable Corporation

__________________________________________

(Exact name of Registrant as Specified in Charter)


Delaware

001-12983

06-1398235

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)


4 Tesseneer Drive, Highland Heights, Kentucky 41076-9753

(Address of Principal Executive Offices)


Registrant’s telephone number, including area code:  (859) 572-8000



Not Applicable

(Former Name or Former Address, if Changed Since Last Report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))









EXPLANATORY NOTE


This Amendment No. 1 to Form 8-K (“Amendment No. 1”) is being filed to amend in its entirety Exhibit 99 to the Current Report on Form 8-K dated July 25, 2006, as filed by General Cable Corporation (the “Company”) with the Securities and Exchange Commission on July 25, 2006 (the “Original Form 8-K”).  The Exhibit filed with the Original Form 8-K inadvertently did not contain four lines of the press release which had been disseminated by the Company on July 25, 2006.  




Item 2.02

Results of Operations and Financial Condition.


On July 25, 2006, the registrant issued a press release, a copy of which is filed as Exhibit 99 hereto and is incorporated herein by reference.  


 


Item 9.01

Financial Statements and Exhibits.

 

List below the financial statements, pro forma financial information and exhibits, if any, filed as part of this report.  


(c)  The Exhibit accompanying this report is listed in the Index to Exhibits.  







SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.  




General Cable Corporation


August 9, 2006

By:

/s/ Robert J. Siverd

Name:

Robert J. Siverd

Title:

Executive Vice President and

General Counsel









INDEX TO EXHIBITS


Exhibit Number

Description

Method of Filing


99


Financials - Revised


Filed Herewith

 

 

 









EX-99 2 f200608098kafinancials.htm FINANCIALS - REVISED General Cable Corporation

EXHIBIT 99

 

 

 General Cable Corporation and Subsidiaries

 Consolidated Statements of Operations

 (in millions, except per share data)

 (unaudited)

 

 

 

 Three Fiscal Months Ended

 

 Six Fiscal Months Ended

 

 

June 30, 2006

 

July 1, 2006

 

June 30, 2006

 

July 1, 2005

Net sales

 

$987.1

 

$608.6

 

$1,791.4

 

$1,162.8

Cost of sales

 

857.6

 

537.3

 

1,564.3

 

1,024.1

Gross profit

 

129.5

 

71.3

 

227.1

 

138.7

 

 


 


 


 


 

 


 


 


 


Selling, general and

   administrative expenses

 

59.1

 

43.3

 

114.5

 

86.5

Operating income

 

70.4

 

28.0

 

112.6

 

52.2

Other income (expense)

 

0.2

 

-

 

1.0

 

(0.1)

Interest income (expense):

 


 


 


 


                    Interest expense

 

(12.3)

 

(10.6)

 

(22.4)

 

(20.9)

                    Interest income

 

0.7

 

1.5

 

1.2

 

1.9

 

 

(11.6)

 

(9.1)

 

(21.2)

 

(19.0)

 

 


 


 


 


Income before income taxes

 

59.0

 

18.9

 

92.4

 

33.1

Income tax provision

 

(17.5)

 

(7.1)

 

(29.5)

 

(12.3)

Net income

 

41.5

 

11.8

 

62.9

 

20.8

Less: preferred stock dividends

 

(0.1)

 

(1.5)

 

(0.2)

 

(3.0)

Net income applicable to common shareholders

 

$41.4

 

$10.3

 

$62.7

 

$17.8

Earnings per share

 


 


 


 


Earnings per common share

 

$0.81

 

$0.26

 

$1.24

 

$0.45

Weighted average common shares

 

50.8

 

39.4

 

50.4

 

39.3

Earnings per common share-

    assuming dilution

 

$0.80

 

$0.23

 

$1.21

 

$0.41

Weighted average common shares –

   assuming dilution

 

52.2

 

50.9

 

51.8

 

50.8





General Cable Corporation and Subsidiaries

Consolidated Statements of Operations

Segment Information

(in millions)

(unaudited)

 

 

Three Fiscal Months Ended

 

 

Six Fiscal Months Ended

 

 

 

June 30,

 

July 1,

 

 

June 30,

 

July 1,

 

 

 

2006

 

2005

 

 

2006

 

2005

 

Revenues (as reported)

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

$359.5

 

$212.4

 

 

$659.6

 

$408.9

 

    Industrial & Specialty Segment

 

443.1

 

252.1

 

 

797.3

 

493.3

 

    Communications Segment

 

184.5

 

144.1

 

 

334.5

 

260.6

 

Total

 

$987.1

 

$608.6

 

 

$1,791.4

 

$1,162.8

 

Revenues (metal adjusted)

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

$359.5

 

$272.2

 

 

$659.6

 

$495.5

 

    Industrial & Specialty Segment

 

443.1

 

370.6

 

 

797.3

 

659.2

 

    Communications Segment

 

184.5

 

183.8

 

 

334.5

 

323.6

 

Total

 

$987.1

 

$826.6

 

 

$1,791.4

 

$1,478.3

 

Metal Pounds Sold

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

99.2

 

75.2

 

 

188.7

 

145.8

 

    Industrial & Specialty Segment

 

79.3

 

64.0

 

 

159.6

 

124.4

 

    Communications Segment

 

34.0

 

34.7

 

 

65.8

 

64.2

 

Total

 

212.5

 

173.9

 

 

414.1

 

334.4

 

Operating Profit (Loss)

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

$25.2

 

$15.4

 

 

$43.7

 

$27.7

 

    Industrial & Specialty Segment

 

30.8

 

10.2

 

 

50.7

 

19.4

 

    Communications Segment

 

14.4

 

5.9

 

 

18.2

 

8.6

 

Subtotal

 

70.4

 

31.5

 

 

112.6

 

55.7

 

   Corporate

 

-

 

(3.5)

 

 

-

 

(3.5)

 

Total

 

$70.4

 

$28.0

 

 

$112.6

 

$52.2

 

Return on Metal Adjusted Sales

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

7.0%

 

5.7%

 

 

6.6%

 

5.6%

 

    Industrial & Specialty Segment

 

7.0%

 

2.8%

 

 

6.4%

 

2.9%

 

    Communications Segment

 

7.8%

 

3.2%

 

 

5.4%

 

2.7%

 

 Total Company

 

7.1%

 

3.4%

 

 

6.3%

 

3.5%

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

$6.6

 

$3.7

 

 

$10.0

 

$6.9

 

    Industrial & Specialty Segment

 

6.1

 

3.5

 

 

9.5

 

6.3

 

    Communications Segment

 

1.9

 

1.3

 

 

3.1

 

2.5

 

Total

 

$14.6

 

$8.5

 

 

$22.6

 

$15.7

 

Depreciation & Amortization

 

 

 

 

 

 

 

 

 

 

    Energy Segment

 

$4.7

 

$2.7

 

 

$9.4

 

$4.6

 

    Industrial & Specialty Segment

 

4.6

 

3.4

 

 

9.1

 

6.4

 

    Communications Segment

 

3.7

 

4.2

 

 

7.0

 

8.3

 

Subtotal

 

13.0

 

10.3

 

 

25.5

 

19.3

 

   Corporate

 

-

 

2.9

 

 

-

 

2.9

 

Total

 

$13.0

 

$13.2

 

 

$25.5

 

$22.2

 







GENERAL CABLE CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

(in millions, except share data)





ASSETS

 

30-Jun-06

 

31-Dec-05

 

 

 (unaudited)

 

 

Current Assets:

 


 


Cash

 

$59.0

 

$72.2

Receivables, net of allowances of $10.3 million at June 30, 2006

   and $8.6 million at December 31, 2005

 

791.7

 

542.9

Inventories

 

399.2

 

363.9

Deferred income taxes

 

47.6

 

41.9

Prepaid expenses and other

 

70.1

 

48.6

Total current assets

 

1,367.6

 

1,069.5

 

 


 


Property, plant and equipment, net

 

368.7

 

366.4

Deferred income taxes

 

53.9

 

52.5

Other non-current assets

 

33.3

 

34.8

Total assets

 

$1,823.5

 

$1,523.2

 

 


 


LIABILITIES AND SHAREHOLDERS’ EQUITY

 


 


 

 


 


Current Liabilities:

 


 


Accounts payable

 

$647.8

 

$472.3

Accrued liabilities

 

209.6

 

212.2

Current portion of long-term debt

 

20.0

 

6.4

Total current liabilities

 

877.4

 

690.9

 

 


 


Long-term debt

 

425.3

 

445.2

Deferred income taxes

 

13.1

 

13.4

Other liabilities

 

106.4

 

80.4

Total liabilities

 

1,422.2

 

1,229.9

 

 


 


Shareholders’ Equity:

 


 


Redeemable convertible preferred stock,

 


 


June 30, 2006 – 101,949 outstanding shares

December 31, 2005 – 129,916 outstanding shares

(liquidation preference of $50.00 per share)

 

5.1

 

6.5

Common stock, $0.01 par value, issued and outstanding shares:

 


 


June 30, 2006 – 51,078,781 (net of 4,998,730 treasury

shares)

December 31, 2005 – 49,520,209 (net of 4,968,755

treasury shares)

 

0.6

 

0.5

Additional paid-in capital

 

269.4

 

246.3

Treasury stock

 

(53.0)

 

(52.2)

Retained earnings

 

166.5

 

103.8

Accumulated other comprehensive income (loss)

 

12.7

 

(6.8)

Other shareholders’ equity

 

-

 

(4.8)

Total shareholders’ equity

 

401.3

 

293.3

Total liabilities and shareholders’ equity

 

$1,823.5

 

$1,523.2





-----END PRIVACY-ENHANCED MESSAGE-----