International Wire Group Holdings, Inc. announced financial results for the first quarter ended March 31, 2013. For the quarter, the company's operating income was lower than in the first quarter of 2012. Net sales for the quarter ended March 31, 2013 were $201.1 million, a decrease of $7.1 million, or 3.4%, compared to $208.2 million for the same period in 2012. This decrease was due to reduced sales volume of $12.9 million from decreased demand in all major markets except automotive/specialty vehicles, medical electronics and medical devices, partially offset by $2.5 million of higher customer pricing/mix and $0.1 million from favorable currency exchange rates in Europe. Operating income for the three months ended March 31, 2013 was $13.1 million compared to $16.3 million for the three months ended March 31, 2012, a decrease of $3.2 million, or 19.6%, primarily due to reduced sales volume (including silver-plated products), lower plant utilization and higher medical costs. Operating income decreased in all three of business segments. Net income of $4.7 million for the three months ended March 31, 2013 decreased by $1.8 million from the prior year period level of $6.5 million. The decrease in net income was due primarily to lower operating income partially offset by reduced interest expense as the result of lower interest rates from October 2012 refinancing. Net income per basic share and net income per diluted share of $0.76 and $0.75, respectively, for the three months ended March 31, 2013 increased by $0.09 per basic share and $0.08 per diluted share from the prior year period level of $0.67 per basic and diluted share. The increase in net income per basic and diluted share resulted from a decrease in outstanding shares in the 2013 period compared to the 2012 period following the repurchase of common stock in Dutch auction tender offer in November 2012. Net debt (total debt less cash) was $277.9 million as of March 31, 2013, representing a $24.3 million increase from December 31, 2012 primarily due to higher accounts receivable and the payment of certain accrued expenses, partially offset by higher accounts payable. Adjusted EBITDA was $18.0 million against $21.0 million a year ago.

International Wire Group Holdings, Inc., Annual General Meeting, Jun 06, 2013.

International Wire Group Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2012. Net sales for the quarter ended December 31, 2012 were $161.7 million, a decrease of $29.3 million, or 15.3%, compared to $191.0 million for the same period in 2011. This decrease was primarily due to a higher proportion of tolled copper (customer-owned copper, the value of which is not included in net sales and cost of sales) shipped in the 2012 period compared to the 2011 period, lower sales volume, and unfavorable currency exchange rates in Europe. Operating income for the quarter ended December 31, 2012 was $12.6 million compared to $11.5 million for the quarter ended December 31, 2011, an increase of $1.1 million, or 9.6%, due in part to the LIFO liquidation of $2.9 million in the 2012 period resulting from lower inventory levels at year-end which was partially offset by lower sales volume. Net loss of $7.1 million, or $0.77 per basic share and $0.76 per diluted share, for the quarter ended December 31, 2012 decreased by $10.7 million, or $1.15 per basic share and $1.13 per diluted share, from the prior year period net income of $3.6 million, or $0.38 per basic share and $0.37 per diluted share. The decrease was due primarily to the loss on early extinguishment of debt related to debt refinancing in October 2012, partially offset by higher operating income and a lower income tax rate. Adjusted EBITDA was $17.6 million against $16.4 million a year ago. Net sales for the year ended December 31, 2012 were $733.9 million, a decrease of $136.3 million, or 15.7%, compared to 2011 net sales of $870.2 million. This decrease was primarily due to a lower selling price of copper, a higher proportion of tolled copper in 2012 compared to 2011, unfavorable currency exchange rates, and lower customer pricing/mix (including silver, nickel and tin prices). Operating income for the full year ended December 31, 2012 was $57.5 million, a record level, compared to $54.0 million for the 2011 period, an increase of $3.5 million, or 6.5%. This increase was primarily due to higher sales levels in the bare wire business, greater plant utilization and ongoing cost reduction initiatives in the high performance conductors and European businesses and the favorable fourth quarter 2012 LIFO impact resulting from reduced inventory levels. Net income of $10.8 million, or $1.12 per basic share and $1.11 per diluted share, for the year ended December 31, 2012 was lower than net income in 2011 of $20.1 million, or $2.06 per basic share and $2.03 per diluted share, primarily as a result of an increased loss on early extinguishment of debt related to debt refinancing in October 2012 and higher interest expense related to the company's debt refinancing in June 2011. Net debt was $253.6 million as of December 31, 2012, representing a $30.6 million increase from December 31, 2011 primarily as a result of the company's debt financing in October 2012 and the related $60.0 million of common stock repurchases, partially offset by increased cash flows from operations. Adjusted EBITDA was $76.3 million against $71.5 million a year ago.

International Wire Group Holdings, Inc. announced earnings results for the third quarter and for the first nine months ended September 30, 2012. Net sales for the quarter ended September 30, 2012 were $170.9 million, a decrease of $50.0 million, or 22.6%, compared to $220.9 million for the same period in 2011. This decrease was primarily due to the lower selling price of copper, a higher proportion of tolled copper (customer-owned copper, the value of which is excluded from net sales and cost of sales), lower customer pricing/mix (including silver, nickel and tin prices) and an unfavorable foreign currency exchange effect, partially offset by increased sales volume. Excluding the effects of lower copper prices and a higher proportion of tolled copper, net sales decreased $5.0 million, or 2.8%, versus the same period in 2011. Operating income for the three months ended September 30, 2012 was $12.1 million compared to $11.3 million for the three months ended September 30, 2011, an increase of $0.8 million, or 7.1%, primarily due to higher sales in the Bare Wire Division and increased plant utilization in the High Performance Conductors segment partially offset by lower sales volume in both the High Performance Conductors (primarily silver-plated products) and Engineered Wire Products--Europe segments and higher depreciation and amortization. Net income of $5.0 million, or $0.51 per basic and diluted share, for the three months ended September 30, 2012 increased by $2.8 million, or $0.29 per basic and diluted share, from the prior year results of $2.2 million, or $0.22 per basic and diluted share. The increase was due primarily to higher operating income and a lower income tax provision. Adjusted EBITDA was $16.6 million as compared to $15.5 million for the same period prior year. Net sales for the nine months ended September 30, 2012 were $572.3 million, a decrease of $107.0 million, or 15.8%, compared to 2011 period net sales of $679.3 million. This decrease was primarily due to a lower selling price of copper, a higher proportion of tolled copper in the 2012 period, lower customer pricing/mix (including silver, nickel and tin prices) and an unfavorable foreign currency exchange rate, partially offset by increased sales volume. Excluding the effects of lower copper prices and a higher proportion of tolled copper, net sales increased $5.5 million, or 1.0%, versus the prior year. This increase resulted from $25.3 million of increased volume, partially offset by $15.1 million of lower customer pricing/mix and $4.7 million from the effects of unfavorable foreign currency exchange rates. Operating income for the nine months ended September 30, 2012 was $44.9 million compared to $42.5 million for the 2011 period, an increase of $2.4 million, or 5.6%, primarily from higher sales in the Bare Wire Division and increased plant utilization in the High Performance Conductors segment, partially offset by lower sales volume in the High Performance Conductors and Engineered Wire Products--Europe segments and higher depreciation and amortization. Net income of $17.9 million, or $1.83 per basic and diluted share for the first nine months of 2012, was higher than net income of $16.5 million, or $1.68 per basic share and $1.65 per diluted share in the 2011 period, primarily from increased operating income and a lower income tax provision partially offset by higher interest expense from the Company's June 2011 debt refinancing. Net debt (total debt less cash) was $198.8 million as of September 30, 2012, a $24.2 million decrease from December 31, 2011 primarily from strong operating results and lower working capital requirements. Adjusted EBITDA was $58.7 million as compared to $55.1 million for the same period prior year.

International Wire Group, Inc. announced that it has exercised the early settlement election applicable to its previously announced tender offer for its existing 9.75% Senior Secured Notes due 2015. IWG has accepted for purchase $56,854,255 aggregate principal amount of outstanding Senior 2015 Notes validly tendered on October 3, 2012 pursuant to the Tender Offer and will pay the total consideration of $1,052.81 per $1,000.00 principal amount of Senior 2015 Notes. The early settlement date is October 4, 2012. Withdrawal rights have expired for holders of the Senior 2015 Notes who tendered their Senior 2015 Notes before the Early Tender Date. The Tender Offer will expire on October 17, 2012, unless extended or earlier terminated by IWG. IWG also announced that it has issued a notice of redemption for the remaining outstanding principal amount of the Senior 2015 Notes. On November 5, 2012, IWG will redeem the remaining principal amount of the Senior 2015 Notes at a redemption price equal to 104.875% of the aggregate principal amount of the Senior 2015 Notes, plus accrued and unpaid interest to, but excluding, the redemption date. The complete terms and conditions of the Tender Offer are described in the Offer to Purchase and the related Letter of Transmittal. The Tender Offer is being made pursuant to the tender offer documents, including the Offer to Purchase and Letter of Transmittal that IWG distributed to holders of Senior 2015 Notes. The Tender Offer is not being made to holders of Senior 2015 Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.