General Cable Corporation, one of the most globally diversified industrial companies, has announced fourth quarter results. The company performed reasonable in the economic downturn. General Cable's diversified product offering, global reach and continuous improvement efforts are the key factors of the company which is helping the company well at a time when factories around the world are running at half-capacity. However, rising metal costs have impacted the company's earning during much of this economic downturn. But at the same time, the company is continuous to positive earnings and robust cash flow.

During the fourth quarter, General Cable had the competitive advantage in the countries- Venezuela and France. General Cable's businesses in these countries have been benefited from governmental investment in energy infrastructure and grid reinforcement. However, spending by electric utilities in the United States continues to be a drag on company's performance. Ineffective government policies, delays in projects to support grid reinforcement and alternative energy generation as well as the impact of lower electricity usage by the industrial base were the key factors for the last two years. Iberian demand for electric utility and construction products is also down meaningfully.

Net sales for the fourth quarter of 2009 decreased 24.5% versus same quarter last year. Operating income before items was down 59.2% as compared to fourth quarter of 2008. In December 2009, General Cable issued $429.5 million of 4.5% convertible notes due 2029 in exchange for $464.4 million of its 1% convertible notes due 2012. The interest rate on the 2029 notes will step down to 2.25% in November 2019.

The company also met Analysts expectation. Analysts were expecting General Cable Corp. to report earnings of $0.24 per share for last quarter. General Cable met their expectations with actual earnings of $0.24 also in line the consensus estimate. However, company's earnings are down as compared to last year.

When comparing company's 11.00% projected EPS growth rate for the next five years with the projected EPS growth rate of 4.28% for the Industrial Electrical Equipment industry as a whole during that same time frame, analysts expect BGC to outperform the industry in the future. This can be another good sign for the stock.