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The majority of products and services from Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) are used in industrial, power and telecommunications infrastructure in the growing Asia-Pacific region. Asia Pacific Wire & Cable reported strong financial results in the second quarter and the first half of 2011 in spite of a slight decrease in the copper price. Asia Pacific Wire & Cable yesterday announced unaudited consolidated results for the second quarter and first half ended June 30, 2011.
Second-Quarter 2011 Financial Highlights include the following. 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. 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. Gross profit margin was 11.0%, compared with 13.4% in the year-ago period, and 10.6% in the first quarter of 2011. Net income attributable to APWC shareholders was $2.4 million, compared with $3.7 million in the same period a year ago, and $2.8 million in the first quarter of 2011. Basic and diluted earnings per share were $0.17, compared with $0.27 in the second quarter of 2010, and $0.20 in the first quarter of 2011.
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