Saturday , 21 October 2017
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McKinney Based Encore Wire and Torchmark Corp Report First Quarter Earnings

McKinney based Encore Wire Corporation and Torchmark Corporation released first quarter financial reports this week.

Sales were down at Encore this quarter (Jan-March 2012) compared to the first quarter of 2011. Net sales were $280.5 million compared to $303.4 million during the first quarter of 2011. The average selling price of wire per copper pound sold dropped 9.7% in the first quarter of 2012 versus the first quarter of 2011, accounting for the decline in sales dollars. Net income for the first quarter of 2012 was $6.7 million versus $10.7 million in the first quarter of 2011. Fully diluted net income per common share was $0.29 in the first quarter of 2012 versus $0.46 in the first quarter of 2011.

Torchmark Corporation reported that for the quarter that also ended March 31, 2012, net income was $1.17 per share, compared with $.84 per share for the year-ago quarter. Net operating income for the quarter was $1.27 per share, compared with $1.04 per share for the year-ago quarter. 

Net operating income per share increased 22% over the year-ago quarter.

Source: wire reports

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