UPDATE 1-Houston Wire Q1 results above estimates

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May 12 (Reuters) - Houston Wire and Cable Co (HWCC.O: Quote, Profile, Research, Stock Buzz), a supplier of electrical and electronic wire and cable, posted fourth-quarter earnings above Wall Street expectations, helped by organic growth and higher sales across its five major growth initiatives.

For the latest quarter, the company posted net income of $6.7 million, or 37 cents a share, compared with $7.3 million, or 35 cents a share, in the year-ago period.

Sales rose 9.4 percent to $89.4 million.

In a statement, the company said organic growth accounted for the entire increase in sales.

Houston Wire also estimated that sales from its five major growth initiatives, including Emission Controls, Engineering and Construction, Selected Industrials, LifeGuard and other private branded products, and Utility Power Generation, increased about 20 to 25 percent over the first quarter of 2007.

Analysts on average, expected earnings of 34 cents a share, on revenue of $87.3 million, according to Reuters Estimates.

Shares of the company closed at $19.17 Friday on the Nasdaq. (Reporting by Biswarup Gooptu in Bangalore; Editing by Jarshad Kakkrakandy)