05:11 PM EST - Tree Island Wire Income Fund : has cut cash distributions by a third after swinging to a fourth-quarter loss, mainly because of slumping U.S. housing markets and increased foreign competition that cut ino the wire maker's revenues. The Vancouver-based fund said Monday it is cutting monthly distributions by 33 percent to 8.3 cents a unit, or $1 per unit a year, for the March distribution to be paid April 16. The moves comes after the company reported a loss of more than $1 million in the fourth quarter, reversing year-earlier profit of nearly $1.5 million. Three month revenues fell sharply to $50.4 million from $70.9 million. Tree Island Wire Income Fund
units T.TIL.UN are trading down 39 cents at $6.46.
