United Wire Factories Company reported earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net profit of SAR 11.3 million compared to SAR 12.1 million for the same quarter ended December 31, 2015. Operational profit was SAR 12.3 million compared to SAR 15.3 million for the same quarter ended December 31, 2015. Net income of the current quarter decreased compared to the same period of the last year because of the decrease in sales and the decrease in gross margin and the increase of general and administrative expenses. Operating income of the current quarter decreased due to the decrease in sales, gross margin and the increase in general and administrative expenses. Total sales of the current quarter amounted to SAR 157 million compared to SAR 218 million for the same quarter of the last year which represents a decrease of 28% due to the decrease in decrease in demand. For the year, the company reported net profit of SAR 81.4 million or SAR 1.85 per share compared to SAR 72.2 million or SAR 1.65 per share for the year ended December 31, 2015. Operational profit was SAR 91.9 million compared to SAR 81.6 million for the year ended December 31, 2015. Net income of the current period increased compared to the same period of the last year because of the decrease in cost of goods sold and increase in gross profit. Operating income of the current period increased due to the decrease in cost of sales and increase in gross margin. Total sales of the current period amounted to SAR 690 million compared to SAR 903 million for the same period of the last year which represents a decrease of 24% due to the decrease in demand.