Manufactured Housing Wire Supplier on Uptick

Zacks reports that Encore Wire Corporation (NASDAQ:WIRE), which makes a variety of interior copper wire for manufactured housing, apartment, home building, and commercial industries, has managed to prosper in spite of the housing crunch, even outpacing Zacks’ expectations.   Eighty percent of its revenues are from non-residential building.  The spread between cost of goods and sale of goods increased by 42.2 percent from Q1 2010 to first quarter 2011, and volume shipped gained 28.9 percent for the same period.  Sales increased from $175.2 million to $303.4 million for the first quarter of this year.  With no debt and a revolving line of credit at zero, it had $75.2 million cash on hand as of March 31.  Its price-to-sales ratio (P/S) is 0.5.

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