Houston Wire & Cable Company (NASDAQ:HWCC) announced last week that it will be paying a quarterly dividend of $0.06 on March 11 to shareholders of record on February 26. This shows an annualized dividend of $0.24 and a dividend yield of 4.38%. The ex-dividend date is February 24.
On Tuesday, Houston Wire & Cable tumbled 0.18% or $0.01, ending the session at $5.47. Currently, the company has a market capitalization of $91.87 million and a price to earnings (P/E) ratio of 16.02. The stock holds a 12-month high of $11.13 and a 12-month low of $4.79. It has a 50-day moving average price of $5.34 and a 200-day moving average price of $6.20.
3Q FY2015 Earnings Report
Houston Wire & Cable last announced its quarterly results on November 5. The company reported an 81% decline in net income for the third quarter compared to the same period in 2014. It posted earnings per share (EPS) of $0.04 at revenue of $0.70 million.
Houston Wire & Cable had a gross margin of 20.60%, down by 120 basis points from the same period last year. Moreover, its operating expenses also fell 5% or $0.70 million to $14.30 million year-over-year primarily due to the company’s “disciplined expense management”.
Jim Pokluda, Houston Wire & Cable President and CEO, noted, however, that the company’s healthy cash flow helped in its debt management and balance sheet strengthening. The buyback of additional 216,000 shares also contributed to Houston Wire & Cable’s efforts to counter the losses incurred over the past months.
The company’s sales for the first three quarters of 2015 were down by 20.90% year-over-year. Gross margin for the said period was down by 30 basis points year-over-year at 21.40%. Furthermore, operating expenses for the nine-month period also declined 7.60% or $3.50 million excluding the impairment charge of $3.0 million in the second quarter.
Revenue for the three quarters was down by 80% at $2.20 million compared to the prior year’s $11.30 million three-quarter net income. Without the impact of the impairment charge, net income would have come in at $4.80 million.