General Cable Corp (NYSE:BGC) reported Q1 EPS of $1.00, ex-items, topping consensus estimates of $0.56 cents. Revenues in the quarter decreased 33.6% year-over-year to $1.04 billion, falling short of consensus estimates of $1.14 billion. President and CEO Gregory B. Kenny said, "Currently our visibility remains low and we have not yet seen the impact on demand from governmental infrastructure stimulus measures in any meaningful way. In addition, we have seen high copper volatility coupled with lower capacity utilization in the wire and cable industry. This creates a great deal of price uncertainty. We are hopeful however that governmental stimulus spending may begin to positively impact demand late this year and into 2010 and 2011." The company provided guidance for the second quarter, expecting non-GAAP earnings per share of $0.70 - $0.90, and total revenue between $1.20 billion and $1.25 billion. Consensus estimates are for Q2 EPS of $0.69 on sales of $1.21 billion.

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