Asia Pacific Wire & Cable Corporation Limited reports developments tied to its wire and cable manufacturing, distribution and project engineering operations across the Asia Pacific region. The company operates through subsidiaries that make and distribute enameled wire, power cable and telecommunications products, and it also provides supply, delivery and installation services for power cable projects.
Recurring APWC news includes financial results, copper unit volume, product mix, regional revenue trends in markets such as North Asia and Thailand, and capital actions affecting common shares. Company updates also cover completed rights offering activity, manufacturing-capacity and product-technology initiatives, shareholder capital-allocation commentary and executive finance leadership changes.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) announced a 17% decline in revenues, totaling $207.2 million for the nine months ended September 30, 2020, compared to $249.7 million in 2019. Despite lower revenues, the company reported a significant increase in operating profit to $5.9 million from a loss of $3.1 million, and net income rose to $0.4 million versus a net loss of $2.0 million in 2019. Improvements in gross profit and operational efficiency were noted, though cash and cash equivalents decreased from $53.7 million in late 2019 to $44.6 million by September 2020.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) has received approval from Nasdaq to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, effective July 24, 2020. This decision follows a notification from Nasdaq regarding the company's non-compliance with the minimum Market Value of Publicly Held Shares requirement. APWC continues to trade under the symbol "APWC" but now on a market with different criteria, reflecting its current market status.