Revenue during the quarter dropped 15.68 percent to $924.50 million from $1,096.40 million in the previous year period. Gross margin for the quarter expanded 61 basis points over the previous year period to 11.13 percent. Total expenses were 99.49 percent of quarterly revenues, up from 97.74 percent for the same period last year. That has resulted in a contraction of 175 basis points in operating margin to 0.51 percent.

Operating income for the quarter was $4.70 million, compared with $24.80 million in the previous year period.

However, the adjusted operating income for the quarter stood at $32.10 million compared to $47.40 million in the prior year period. At the same time, adjusted operating margin contracted 85 basis points in the quarter to 3.47 percent from 4.32 percent in the last year period.

Michael T. McDonnell, president and chief executive officer, said, "Third quarter results were below our expectations largely due to a temporary lull in North American end market demand early in the quarter and continued pressure on construction and electrical infrastructure spending in Latin America. Third quarter results were also impacted by the further softening of demand for historically higher margin industrial and specialty products, particularly those tied to oil and gas markets. While disappointed by lower than expected third quarter results, unit volume grew late in the quarter and customer sentiment improved as we continue to navigate a choppy end market environment. For the fourth quarter, we expect year-over-year improvement as higher unit volume is anticipated to more than offset lower subsea turnkey project activity. Overall, Im very pleased with the progress we are making on the elements within our control - most importantly, our ability to execute as we generated strong operating cash flow, reduced outstanding borrowings, and completed the sale of two businesses. In addition, the execution of our strategic roadmap to transform the Company into a more focused, efficient and innovative organization is advancing according to plan."

For the fourth-quarter, General Cable Corp expects revenue to be in the range of $850 million to $900 million. The company expects operating income to be in the range of $17 million to $32 million for the fourth-quarter. The company expects adjusted operating income to be in the range of $25 million to $40 million for the fourth-quarter. The company projects diluted loss per share to be in the range of negative $0.03 to $0.12 for the fourth-quarter. On an adjusted basis, the company projects diluted earnings per share to be in the range of $0.05 to $0.20 for the fourth-quarter.

Cash conversion cycle (CCC) has decreased to 63 days for the quarter from 96 days for the last year period. Days sales outstanding went up to 78 days for the quarter compared with 69 days for the same period last year.

Days inventory outstanding has decreased to 43 days for the quarter compared with 81 days for the previous year period. At the same time, days payable outstanding went up to 58 days for the quarter from 54 for the same period last year.