From the Wires
General Cable Corporation Announces Webcast Discussion of its Fourth Quarter 2012 Results; Provides Status Update of Restated Financial Statements
By: Business Wire
Jan. 23, 2013 04:10 PM
General Cable Corporation (NYSE: BGC) will webcast a discussion of its fourth quarter 2012 earnings and its initial view of 2013 on Monday, February 25, 2013 at 10:00 a.m. ET. Chief Executive Officer Gregory B. Kenny and Chief Financial Officer Brian J. Robinson will discuss the fourth quarter results and the Company’s expectations for 2013. The news release detailing the fourth quarter results and 2013 expectations will be issued before the market opens on Monday, February 25, 2013.
Media and investors may access the live audio webcast at www.generalcable.com beginning at 10:00 a.m. ET on Monday, February 25, 2013. The webcast will also be available for replay.
As described in the Forms 8-K dated October 29, 2012 and November 13, 2012, the Company intends to correct the effect of the accounting errors including the potential inventory theft in Brazil on previously issued interim financial statements by restating the three and nine months ended September 30, 2011 that will be presented comparatively in its Quarterly Report on Form 10-Q for the period ended September 28, 2012 and amending previously filed Forms 10-Q for the periods ended June 29, 2012 and March 30, 2012. Contemporaneous with the filing of the above referenced Quarterly Reports, the Company also intends to file an Annual Report on Form 10-K/A to restate previously issued annual financial statements and related financial information contained therein as of December 31, 2011 and 2010 and the three year period then ended.
The Company’s restated financial statements will be filed as soon as practicable following the conclusion of its ongoing internal review being conducted with the assistance of outside counsel and a forensic accounting firm and assessment of the findings, which is expected to be completed by mid-February. Based on the preliminary findings in the internal review to date, the Company does not believe that its previously disclosed estimates of the amounts of understated costs of sale and overstated inventory will change materially.
General Cable Corporation, headquartered in Highland Heights, Kentucky, is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products and systems for the energy, industrial, specialty, construction, and communications markets. Visit our website at www.generalcable.com.
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