HWCC Houston Wire and Cable Company

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: August 07, 2014 (Date of earliest event reported)
Houston Wire & Cable Company (Exact name of registrant as specified in its charter)
TX (State or other jurisdiction of incorporation)		000-52046 (Commission File Number)	74-2400498 (IRS Employer Identification Number)
10201 North Loop East (Address of principal executive offices)			77029 (Zip Code)
(713) 609-2110 (Registrant's telephone number, including area code)
Not Applicable (Former Name or Former Address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 2.02. Results of Operations and Financial Condition On August 7, 2014, Houston Wire & Cable Company (the "Company") reported its financial results for the quarter ended June 30, 2014. The Company's press release dated August 7, 2014, is attached as exhibit 99.1. Item 9.01. Financial Statements and Exhibits (d) Exhibits             99.1       Press Release of Houston Wire & Cable Company dated August 07, 2014 SIGNATURE       Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 07, 2014

HOUSTON WIRE & CABLE COMPANY By:  /s/ Nicol G. Graham                          Nicol G. Graham      VP & Chief Financial Officer

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Exhibit Index
Exhibit No.	Description
99.1	Press Release of Houston Wire & Cable Company dated August 07, 2014

Houston Wire & Cable Company Reports Results for the Second Quarter of 2014

Record Second Quarter Sales

HOUSTON, TX -- (Marketwired - August 07, 2014) - Houston Wire & Cable Company (NASDAQ: HWCC) (the "Company") announced operating results for the second quarter ended June 30, 2014.

Selected highlights were:

• Record sales of $103.5 million up 4.2% over Q2 2013
• Net income of $4.0 million
• Diluted EPS of $0.23 per share
• Declared a dividend of $0.12 per share

Second Quarter Summary
Jim Pokluda, President and Chief Executive Officer commented, "I am pleased to report another record sales quarter, as sales increased 4.2% over the prior year quarter, up approximately 7% when adjusted for deflation in metals prices, and 4% sequentially. Our revenue performance reflects continued execution in regional geographies where end markets have recovered from post-recession lows, despite disappointing weakness in certain regions where demand remains sluggish. In addition, we are pleased to see growing strength and activity involving the project end of our business, although overall market conditions in this space remain very competitive, pressuring our gross and operating margins.

We estimate Maintenance, Repair and Operations (MRO) sales increased 2% or approximately 5% on a metals adjusted basis, while project business increased 8% or approximately 11% on a metals adjusted basis over the prior year quarter. Our new product initiatives, including specialty oil and gas cables and aluminum cables, continued to help the top line."

Gross margin at 21.7% decreased 20 basis points from the second quarter of 2013 due to competitive pricing and the impact of lower metals prices. Operating expenses were up $0.7 million or 4.7% from the prior year period, principally due to the cost of operating three new distribution locations and additional operating salaries to support the increased sales.

Interest expense of $0.3 million was slightly higher than the prior year period, as outstanding debt at $53.2 million increased from $46.6 million at June 30, 2013, but decreased from March 31, 2014 by $5.0 million or 8.6%. The average effective interest rate remained flat year to year at 2.1%. The effective tax rate for the period of 38.4% was lower than the 38.7% rate in the prior year period, due to a slightly lower state tax rate in 2014.

Net income of $4.0 million was flat with the second quarter of 2013. Diluted earnings per share were $0.23 consistent with the prior year period. Pokluda further commented, "I am pleased that our financial performance and strong balance sheet again allowed us to return funds to our shareholders through the $0.12 per share dividend and the repurchase of approximately 243,000 shares of stock."

Six month summary
Sales for the six month period were up 5.2% versus the prior year period and increased approximately 7% on a metals adjusted basis. We estimate that MRO sales increased 4%, while project sales increased 14%, on a metals adjusted basis.

Gross margin at 21.7% was down 60 basis points from the 2013 period. "Pricing remains very competitive in the marketplace, especially in those regions where demand for product remains depressed and on large projects, which is an area that has really just started to recover. Overall, we were pleased to see our margins remain at respectable levels, while we continue to gain market share as evidenced by our top line growth, especially on a metals adjusted basis," said Mr. Pokluda. Gross profit dollars increased $1.0 million or 2.4%, primarily due to the increase in sales.

Operating expenses increased by 3.5% or $1.1 million in the current year period. Pokluda further commented, "Rigorous expense management remains a top priority and although expenses are up, primarily due to increased sales, the three new distribution facilities and professional fees, these additional expenses are being partially offset by savings realized from the expense reduction initiative executed earlier in the year, which remains on target."

Interest expense of $0.6 million was higher than the prior year's $0.5 million as average debt levels increased from $49.7 million in 2013 to $58.1 million in 2014, while interest rates remained flat at 2%. The effective tax rate for the period of 38.4% was higher than the 37.8% rate in the prior year period, as the prior year included a state tax credit.

Net income for the period of $7.8 million fell 1.8% from the $7.9 million level in the prior year period. However, diluted earnings per share of $0.44 were consistent with the prior year period.

Conference Call
The Company will host a conference call to discuss second quarter results today, Tuesday, August 7, 2014, at 10:00 a.m., C.D.T. Hosting the call will be James Pokluda, President and Chief Executive Officer and Nicol Graham, Vice President and Chief Financial Officer.

A live audio web cast of the call will be available on the Investor Relations section of the Company's website www.houwire.com.

Approximately two hours after the completion of the live call, a telephone replay will be available until August 14, 2014.

Replay, Toll-Free #: 855-859-2056
Replay, Toll #: 404-537-3406
Conference ID # 81743235

About the Company
With over 39 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the nation.

Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables, primary and secondary aluminum distribution cables, private branded products, including LifeGuard™, a low-smoke, zero-halogen cable, mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings.

Comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service.

Forward-Looking Statements
This release contains comments concerning management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and projections about future events may, and often do, vary materially from actual results.

Other risk factors that may cause actual results to differ materially from statements made in this press release can be found in the Company's Annual Report on Form 10-K and other documents filed with the SEC. These documents are available under the Investor Relations section of the Company's website at www.houwire.com.

Any forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to publicly update such statements.

HOUSTON WIRE & CABLE COMPANY Consolidated Balance Sheets (In thousands, except share data) June 30, December 31, 2014 2013 ------------ ------------ (unaudited) Assets Current assets: Accounts receivable, net $ 63,954 $ 60,408 Inventories, net 87,368 96,107 Deferred income taxes 2,784 2,591 Income taxes 696 420 Prepaids 1,432 762 ------------ ------------ Total current assets 156,234 160,288 Property and equipment, net 8,280 7,974 Intangible assets, net 9,367 10,234 Goodwill 17,520 17,520 Other assets 172 159 ------------ ------------ Total assets $ 191,573 $ 196,175 ============ ============ Liabilities and stockholders' equity Current liabilities: Book overdraft $ 2,418 $ 4,594 Trade accounts payable 11,630 13,637 Accrued and other current liabilities 13,004 18,772 ------------ ------------ Total current liabilities 27,052 37,003 Debt 53,161 47,952 Other long term obligations 96 97 Deferred income taxes 303 429 ------------ ------------ Total liabilities 80,612 85,481 ------------ ------------ Stockholders' equity: Preferred stock, $0.001 par value; 5,000,000 shares authorized, none issued and outstanding - - Common stock, $0.001 par value; 100,000,000 shares authorized: 20,988,952 shares issued: 17,679,771 and 17,954,032 outstanding at June 30, 2014 and December 31, 2013, respectively 21 21 Additional paid-in-capital 55,563 55,642 Retained earnings 108,267 104,607 Treasury stock (52,890) (49,576) ------------ ------------ Total stockholders' equity 110,961 110,694 ------------ ------------ Total liabilities and stockholders' equity $ 191,573 $ 196,175 ============ ============ HOUSTON WIRE & CABLE COMPANY Consolidated Statements of Income (Unaudited) (In thousands, except share and per share data) Three Months Ended Six Months Ended June 30, June 30, ----------------------- ----------------------- 2014 2013 2014 2013 ----------- ----------- ----------- ----------- Sales $ 103,461 $ 99,332 $ 203,760 $ 193,636 Cost of sales 81,022 77,607 159,617 150,532 ----------- ----------- ----------- ----------- Gross profit 22,439 21,725 44,143 43,104 Operating expenses: Salaries and commissions 8,061 7,785 16,184 15,752 Other operating expenses 6,728 6,315 13,220 12,596 Depreciation and amortization 762 758 1,503 1,503 ----------- ----------- ----------- ----------- Total operating expenses 15,551 14,858 30,907 29,851 ----------- ----------- ----------- ----------- Operating income 6,888 6,867 13,236 13,253 Interest expense 345 252 613 525 ----------- ----------- ----------- ----------- Income before income taxes 6,543 6,615 12,623 12,728 Income taxes 2,512 2,562 4,847 4,813 ----------- ----------- ----------- ----------- Net income $ 4,031 $ 4,053 $ 7,776 $ 7,915 =========== =========== =========== =========== Earnings per share: Basic $ 0.23 $ 0.23 $ 0.44 $ 0.45 =========== =========== =========== =========== Diluted $ 0.23 $ 0.23 $ 0.44 $ 0.44 =========== =========== =========== =========== Weighted average common shares outstanding: Basic 17,647,936 17,800,056 17,748,863 17,776,500 =========== =========== =========== =========== Diluted 17,713,021 17,898,911 17,821,479 17,872,307 =========== =========== =========== =========== Dividend declared per share $ 0.12 $ 0.11 $ 0.23 $ 0.20 =========== =========== =========== =========== HOUSTON WIRE & CABLE COMPANY Consolidated Statements of Cash Flows (Unaudited) (In thousands) Six Months Ended June 30, -------------------------- 2014 2013 ------------ ------------ Operating activities Net income $ 7,776 $ 7,915 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 1,503 1,503 Amortization of unearned stock compensation 450 433 Provision for inventory obsolescence 704 226 Deferred income taxes (319) (183) Other non-cash items 89 (15) Changes in operating assets and liabilities: Accounts receivable (3,626) 1,399 Inventories 8,035 604 Book overdraft (2,176) 6,529 Trade accounts payable (2,007) (175) Accrued and other current liabilities (5,880) (1,783) Income taxes (289) (661) Other operating activities (693) (433) ------------ ------------ Net cash provided by operating activities 3,567 15,359 Investing activities Expenditures for property and equipment (942) (600) ------------ ------------ Net cash used in investing activities (942) (600) Financing activities Borrowings on revolver 204,327 192,540 Payments on revolver (199,118) (204,479) Payment of dividends (4,077) (3,552) Purchase of treasury stock (3,852) (6) Other financing activities 95 464 ------------ ------------ Net cash used in financing activities (2,625) (15,033) Net change in cash - (274) Cash at beginning of period - 274 ------------ ------------ Cash at end of period $ - $ - ============ ============

CONTACT: Nicol G. Graham Chief Financial Officer Direct: 713.609.2125 Fax: 713.609.2168 ngraham@houwire.com