Ernst & Young Houston & Gulf Coast Area
2007 Entrepreneur of the Year Finalist
Construction & Distribution Category
Houston Wire & Cable Company’s President & CEO, Chuck Sorrentino, was nominated for Ernst & Young’s Entrepreneur of the Year Program for the second time in his career with the company. The program is designed to honor an owner/manager of a private or public company that is primarily responsible for the recent performance of a company and an active member of top management. Chuck believes that customer satisfaction and employee happiness are vital and endorses and entrepreneurial sprit by encouraging employees to contribute to the company’s success.
Mr. Sorrentino and members of the management team were honored at the awards banquet on June 28, 2007.
Houston Wire & Cable Company Ranks in Top 10 On BusinessWeek's 100 'Hot Growth' Companies in the United States
To identify "Hot Growth" companies, BusinessWeek reviews Standard & Poor's database of 10,000 public companies with annual revenues of $50 million to $1.5 billion. Businesses are ranked by three-year sales and earnings growth as well as return on capital. Companies must have a market cap of $25 million or more and a stock price of at least $5. To review the article in its entirety, visit http://www.businessweek.com.
Houston Wire & Cable Company Announces Secondary Offering of Common Stock
In March 2007, HWCC completed a secondary offering of common stock of 7.475 million shares. The price of the offering was set at $25.00 per share. The Company will not receive any of the proceeds from the sale of shares by the selling stockholders.
For both offerings, William Blair & Company, L.L.C. acted as sole book-running manager, along with Robert W. Baird & Co. Incorporated as the co-lead manager and BB&T Capital Markets as co-manager.
Houston Wire & Cable Company Announces Public Offering of Common Stock
In June 2006, Houston Wire & Cable Company completed an initial public offering of 9.775 million shares. The price of the offering was set at $13.00 per share and the net proceeds from this offering were used to repay debt. With this offering, shares began trading on the NASDAQ National Market under the symbol "HWCC".
