<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                 FORM 10-Q/A
                               AMENDMENT NO. 1


(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the quarterly period ended      March 31, 1997 

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

                                    33-93970
                            (Commission File Number)

                         INTERNATIONAL WIRE GROUP, INC.
             (Exact name of Registrant as specified in its charter)

                                    DELAWARE
         (State or other jurisdiction of incorporation or organization)

                                   43-1705942
                      (I.R.S. Employer Identification No.)

                             101 SOUTH HANLEY ROAD
                              ST. LOUIS, MO 63105
                                 (314) 719-1000
         (Address, including zip code, and telephone number, including
            area code, of Registrant's principal executive offices)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                                 YES [X] NO [ ]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:

<TABLE>
<CAPTION>
                                                    Outstanding at
 Class                                              April 30, 1997 
-------                                            ----------------
<S>                                                      <C>
International Wire Group, Inc.
 Common Stock                                            1,000
</TABLE>
<PAGE>   2
                         INTERNATIONAL WIRE GROUP, INC.

                                     INDEX
<TABLE>
<CAPTION>
PART I - FINANCIAL INFORMATION                                                      Page
                                                                                    ----
<S>                                                                                  <C>
International Wire Group, Inc.                                                      
 Consolidated Balance Sheets as of March 31, 1997 and December 31, 1996...........    1
 Consolidated Statements of Operations for the three months ended March 31, 1997    
   and the three months ended March 31, 1996......................................    2
 Consolidated Statements of Cash Flows for the three months                         
   ended March 31, 1997 and three months ended March 31, 1996.....................    3
 Notes to Consolidated Financial Statements.......................................    4
                                                                                    
SIGNATURES........................................................................   15
</TABLE>


                                      (i)
<PAGE>   3
                         INTERNATIONAL WIRE GROUP, INC.
                          CONSOLIDATED BALANCE SHEETS
                       (IN THOUSANDS, EXCEPT SHARE DATA)


<TABLE>
<CAPTION>
                                                                          March 31,        December 31,
                                                                            1997               1996
                                                                         ------------------------------
                               ASSETS                                    (Unaudited)       
<S>                                                                       <C>              <C>
Current assets:                                                                            
 Cash...............................................................      $   3,825        $      --
 Accounts receivable, less allowance of $ 1,343                                            
   and $1,363, respectively.........................................        106,032           71,181
 Inventories........................................................         72,830           60,362
 Prepaid expenses and other.........................................          9,679            5,060
 Deferred income taxes..............................................          4,741            4,741
                                                                          ---------        ---------
 Total current assets...............................................        197,107          141,344
Property, plant and equipment, net..................................        158,719          118,551
Deferred financing costs, net.......................................         23,401           21,222
Intangible assets, net..............................................        247,980          244,655
Other assets........................................................          7,100            5,248
                                                                          ---------        ---------
 Total assets.......................................................      $ 634,307        $ 531,020
                                                                          =========        =========
           LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                  
                                                                                           
Current liabilities:                                                                       
 Current maturities of long-term obligations........................       $ 21,944        $  20,948
 Accounts payable...................................................         45,155           45,832
 Accrued and other liabilities......................................         56,512           41,183
 Accrued interest...................................................          9,649            4,648
                                                                          ---------        ---------
 Total current liabilities..........................................        133,260          112,611
Long-term obligations, less current maturities......................        510,818          426,719
Deferred income taxes...............................................         15,532           14,719
Other long-term liabilities.........................................         18,856           12,162
                                                                          ---------        ---------
 Total liabilities..................................................        678,466          566,211
Stockholders' equity (deficit):                                                            
 Common stock, $.01 par value, 1,000 shares                                                
 authorized, issued and outstanding.................................              0                0
 Series A Senior Cumulative Exchangeable                                                   
 Redeemable Preferred Stock, $.01 par value, $25 liquidation value,                        
  0 and 400,000 shares authorized, issued and outstanding as of 
  March 31, 1997 and December 31, 1996, respectively................            --                 4
 Contributed capital................................................        114,080          125,340
 Carryover of predecessor basis.....................................        (67,762)         (67,762)
 Accumulated deficit................................................        (90,477)         (92,773)
                                                                          ---------        ---------
 Total stockholders' equity (deficit)...............................        (44,159)         (35,191)
                                                                          ---------        ---------
 Total liabilities and stockholders' equity (deficit)...............      $ 634,307        $ 531,020
                                                                          =========        =========
</TABLE>


        See accompanying notes to the consolidated financial statements



                                      1

<PAGE>   4
                         INTERNATIONAL WIRE GROUP, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (IN THOUSANDS)
                                  (UNAUDITED)



<TABLE>
<CAPTION>
                                                               Three Months       Three Months
                                                                  Ended              Ended
                                                                 March 31,          March 31,
                                                                   1997               1996
                                                                 ---------          ---------
 <S>                                                             <C>                <C>
 Net sales.............................................          $ 176,153          $ 118,807
 Operating expenses:                                                       
  Cost of goods sold...................................            137,913             93,475
  Selling, general and                                                     
  administrative.......................................             13,308              9,721
  Depreciation and amortization........................              7,511              6,044
  Inventory valuation adjustment.......................                 --              2,000
  Expenses related to plant                                                
  closings.............................................                500              4,000
                                                                 ---------          ---------
 Operating income......................................             16,921              3,567
 Other income (expense):                                                   
  Interest expense.....................................            (12,011)            (9,572)
  Amortization of deferred                                                 
  financing costs......................................               (995)              (723)
  Other, net...........................................                 11                 89
                                                                 ---------          ---------
 Income (loss) before income tax provision.............              3,926             (6,639)
 Income tax provision..................................              1,630                255
                                                                 ---------          ---------
 Net income (loss).....................................          $   2,296          $  (6,894)
                                                                 =========          ========= 
</TABLE>                                                  
                                                          
                                                          
        See accompanying notes to the consolidated financial statements


                                      2

<PAGE>   5
                         INTERNATIONAL WIRE GROUP, INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (IN THOUSANDS)
                                  (UNAUDITED)


<TABLE>
<CAPTION>
                                                                        Three Months         Three Months
                                                                           Ended                Ended
                                                                          March 31,            March 31,
                                                                            1997                 1996
                                                                          ---------            ---------
<S>                                                                       <C>                  <C>
Cash flows provided by (used in) operating                              
 activities:                                                            
 Net income(loss)................................................          $ 2,296               $  (6,894)
 Adjustments to reconcile net income (loss) to net cash provided        
  by (used in) operating activities:                                    
 Depreciation and amortization...................................            7,511                   6,044
 Amortization of deferred financing costs........................              995                     723
 Inventory valuation adjustment..................................               --                   2,000
 Change in assets and liabilities, net of                               
  acquisitions:                                                         
 Accounts receivable.............................................          (19,379)                 (8,568)
 Inventories.....................................................           12,958                     292
 Prepaid expenses and other......................................           (1,159)                   (335)
 Accounts payable................................................          (14,655)                 (3,150)
 Accrued and other liabilities...................................            1,963                   2,743
 Accrued interest................................................            5,001                   6,517
 Other long-term liabilities.....................................             (139)                   (101)
                                                                           -------                 -------
Net cash used in operating activities............................           (4,608)                   (729)
                                                                           -------                 -------
                                                                        
Cash flows provided by (used in) investing                              
 activities:                                                            
 Acquisitions, net of cash.......................................          (58,996)               (160,259)
 Capital expenditures............................................           (3,038)                 (2,537)
                                                                           -------                 -------
Net cash from investing activities...............................          (62,034)               (162,796)
                                                                           -------                 -------
Cash flows provided by (used in) financing                              
 activities:                                                            
 Equity proceeds.................................................               --                  45,039
 Proceeds from issuance of long-term                                    
 obligations.....................................................           65,000                 128,200
 Borrowing (repayment) of long-term obligations..................           10,095                   3,100
 Cash dividends paid on preferred stock..........................           (1,378)                     --
 Financing fees and other........................................           (3,250)                 (7,800)
                                                                           -------                 -------
Net cash from financing activities...............................           70,467                 168,539
                                                                           -------                 -------
Net change in cash...............................................            3,825                   5,014
Cash at beginning of the                                                
 period..........................................................               --                      --
                                                                           -------                 -------
Cash at end of the period........................................          $ 3,825                 $ 5,014
                                                                           =======                 =======
</TABLE>


        See accompanying notes to the consolidated financial statements


                                      3


<PAGE>   6
                         INTERNATIONAL WIRE GROUP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       (IN THOUSANDS, EXCEPT SHARE DATA)
                                  (UNAUDITED)


1.  THE COMPANY

    International Wire Group, Inc. ("Group" or the "Company"), a Delaware
    corporation, was formed to participate in the transactions contemplated by
    the IW Acquisition (as described below). On June 12, 1995, Wirekraft
    Holdings Corp. ("Wirekraft"), Omega Wire Corp. ("Omega"), International Wire
    Holding Company ("Holding", the parent company of Group), Group, Wirekraft
    Acquisition Company and certain shareholders of Wirekraft and Omega entered
    into a series of acquisitions and mergers (the "IW Acquisition") pursuant to
    which Group acquired all of the common equity securities (and all securities
    convertible into such securities) of Wirekraft and all of the common equity
    securities of Omega. On March 5, 1996, Wire Technologies, Inc. ("Wire
    Technologies"), a wholly- owned subsidiary of the Company, acquired the
    businesses of Hoosier Wire, Inc., Dekko Automotive Wire, Inc., Albion Wire,
    Inc. and Silicones, Inc., a group of affiliated companies operating together
    under the tradename Dekko Wire Technology Group (the "DWT Acquisition"). On
    February 12, 1997, the Company acquired all of the issued and outstanding
    common stock of Camden Wire Co., Inc. ("Camden") a wholly-owned subsidiary
    of Oneida LTD. (the "Camden Acquisition"). See Note 3.

    The Company through its two segments, the wire segment and the harness
    segment, is engaged in the design, manufacture and marketing of
    non-insulated and insulated copper wire and wire harnesses. The Company's
    products are used by a wide variety of customers primarily in the
    automotive, appliance, computer and data communications and industrial
    equipment industries.

2.  BASIS OF PRESENTATION

    Unaudited Interim Consolidated Financial Statements

    The unaudited interim consolidated financial statements reflect all
    adjustments consisting only of normal recurring adjustments which are, in
    the opinion of management, necessary for a fair presentation of financial
    position and results of operations. The results for the three months ended
    March 31, 1997 are not necessarily indicative of the results that may be
    expected for a full fiscal year.

    Statement of Cash Flows

    Interest and taxes paid for the three months ended March 31, 1997 were
    $7,010 and $166, respectively.

3.  CAMDEN ACQUISITION

    On February 12, 1997, the Company completed the Camden Acquisition. The
    total consideration of $65,000 paid in connection with the Camden
    Acquisition, including fees and expenses, consisted of (i) cash and (ii) the
    assumption of debt related to Industrial Revenue Bonds. The cash portion of
    the consideration paid and the transaction fees and expenses incurred in
    connection with the Camden Acquisition were funded with $65,000 of senior
    debt under the Amended and Restated Credit Agreement.




                                        4
<PAGE>   7
                          INTERNATIONAL WIRE GROUP, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)


    The Camden Acquisition was accounted for using the purchase method of
    accounting whereby the total acquisition cost has been preliminarily
    allocated to the consolidated assets and liabilities based upon their
    estimated respective fair values. The purchase price allocations are still
    in process. It is not expected that the final allocation of the purchase
    cost will result in a materially different allocation than is presented
    herein. The total acquisition cost is preliminarily allocated to the
    acquired net assets as follows:

<TABLE>
<S>                                                                     <C>
Current assets.....................................................     $ 49,666 
Property, plant & equipment........................................       42,041 
Goodwill...........................................................        3,572 
Other, non-current.................................................        1,728 
Fees and costs.....................................................        3,250 
Current liabilities................................................      (27,612) 
Other liabilities..................................................       (7,645) 
                                                                        --------  
                                                                        $ 65,000 
                                                                        ========
</TABLE>

    Unaudited pro forma results of operations of the Company for the three
    months ended March 31, 1997 and March 31, 1996 are included below. Such pro
    forma presentation has been prepared assuming that the Camden Acquisition
    and related financing had occurred as of January 1, 1997 and January 1,
    1996, respectively, and that the DWT Acquisition and related financing had
    occurred as of January 1, 1996.

<TABLE>
<CAPTION>
                                                            Three Months Ended
                                                                March 31,
                                                         1997              1996 
                                                         -----             -----
<S>                                                    <C>               <C>
Net sales.....................................         $ 195,144         $ 180,568
Net income (loss).............................         $   1,231         $  (3,939)
</TABLE>

4.  INVENTORIES

    Inventories are valued at the lower of cost or market. Cost is determined
    using the last-in, first-out ("LIFO") method.

    The composition of inventories at March 31, 1997 is as follows:

<TABLE>
<S>                                                                        <C>
Raw materials......................................................        $ 33,946
Work-in-process....................................................          16,743
Finished goods.....................................................          22,141 
                                                                           --------
 Total                                                                     $ 72,830 
                                                                           ========
</TABLE>

5.  LONG-TERM OBLIGATIONS

    The composition of long-term obligations at March 31, 1997 is as follows:

<TABLE>
<S>                                                                       <C>
Credit Agreement:                                                  
 Revolving credit facility.........................................        $ 18,800
 Term facility.....................................................         331,488
Senior subordinated and exchange notes.............................         160,000
Industrial revenue bonds...........................................          15,500
Other                                                                         6,974
                                                                          --------- 
                                                                            532,762
Less, current maturities...........................................         (21,944)
                                                                          --------- 
                                                                          $ 510,818
                                                                          =========
</TABLE>


                                        5
<PAGE>   8
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)


    The schedule of principal payments for long-term obligations at March 31,
    1997 is as follows:

<TABLE>
<S>                                                       <C>
1997...............................................       $  16,173
1998...............................................          24,153
1999...............................................          29,493
2000...............................................          62,669
2001...............................................          57,508
Thereafter.........................................         342,766
                                                          ---------
 Total                                                    $ 532,762
                                                          =========
</TABLE>

    In connection with the Camden Acquisition, Holding and the Company entered
    into an Amended and Restated Credit Agreement dated as of February 12, 1997
    with certain financial institutions. The Amended and Restated Credit
    Agreement provides senior secured financing of up to $428.5 million,
    consisting of an $111.0 million, Term A loan, an $115.0 million Term B loan,
    an $127.5 million Term C loan (collectively the "Term Facility") and a $75.0
    million revolving loan and letter of credit facility (the "Revolver").
    Mandatory principal payments of the Term Facility are due in quarterly
    installments. The final installment on the Term A loan is due September 30,
    2000 at which time the Revolver is also due. The final installments on the
    Term B Loan and Term C Loan are due September 30, 2002 and September 30,
    2003, respectively.

    Borrowings under the Term A Loan and Revolver bear interest, at the option
    of Group, at a rate per annum equal to (a) the Alternate Base Rate (as
    defined in the Amended Credit Agreement) plus 1.5% or (b) the Eurodollar
    Rate (as defined in the Amended Credit Agreement) plus 2.5%. Borrowings
    under the Term B Loan bear interest, at the option of Group, at a rate per
    annum equal to (a) the Alternate Base Rate (as defined in the Amended and
    Restated Credit Agreement) plus 2.0% or (b) the Eurodollar Rate (as defined
    in the Amended and Restated Credit Agreement) plus 3.0%. Borrowings under
    the Term C Loan bear interest, at the option of Group, at a rate per annum
    equal to (a) the Alternate Base Rate (as defined in the Amended and Restated
    Credit Agreement plus 2.5% or (b) the Eurodollar Rate (as defined in the
    Amended and Restated Credit Agreement) plus 3.5%. The Alternate Base Rate
    and Eurodollar Rate margins are established quarterly based on a formula as
    defined in the Amended and Restated Credit Agreement. Interest payment dates
    vary depending on the interest rate option to which the Term Facility and
    the Revolver are tied, but generally interest is payable quarterly. The
    Amended and Restated Credit Agreement contains several financial covenants
    which, among other things, require Group to maintain certain financial
    ratios and restrict Group's ability to incur indebtedness, make capital
    expenditures and pay dividends.

    Senior Subordinated Notes

    The Senior Subordinated Notes due 2005 ("the Senior Notes") were issued
    under an indenture, dated June 12, 1995 (the "Indenture") in connection with
    the Acquisitions. The Senior Notes represent unsecured general obligations
    of Group and are subordinated to all Senior Debt (as defined in the
    Indenture) of Group. The Senior Notes, which were originally sold pursuant
    to an exemption from the registration requirements of the Securities Act of
    1933, as amended, were exchanged for identical notes registered under such
    Act in November, 1995.

    The Senior Notes are fully and unconditionally (as well as jointly and
    severally) guaranteed on an unsecured, senior subordinated basis by each
    subsidiary of the Company (the "Guarantor Subsidiaries") other than Electro
    Componentes de Mexico, S.A. de C.V. and Wirekraft Industries de Mexico, S.A.
    de C.V. (The "Non-Guarantor Subsidiaries"). Each of the Guarantor
    Subsidiaries and Non-Guarantor Subsidiaries is wholly owned by the Company.




                                        6

<PAGE>   9
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

    Exchange Notes

    In February 1997, the Company exchanged $10,000 of Series A Senior
    Cumulative Exchangeable Redeemable Preferred Stock (the "Preferred Stock")
    for 14.0% Senior Subordinated Notes due June 1, 2005 (the "Exchange Notes")
    and paid all dividends in arrears related to the Preferred Stock. The
    Exchange Notes were issued under an indenture dated February 12, 1997 (the
    "Exchange Indenture"). The Exchange Notes represent unsecured general
    obligations of Group, are subordinated to all Senior Indebtedness (as
    defined in the Exchange Indenture) of Group and rank on equal terms with the
    Senior Notes.

    The Exchange Notes are fully and unconditionally (as well as jointly and
    severally) guaranteed on an unsecured, senior subordinated basis by each
    subsidiary of the Company (the "Guarantor Subsidiaries") other than Electro
    Componentes de Mexico, S.A. de C.V. and Wirekraft Industries de Mexico, S.A.
    de C.V. (The "Non-Guarantor Subsidiaries"). Each of the Guarantor
    Subsidiaries and Non-Guarantor Subsidiaries is wholly owned by the Company.

    The Exchange Notes mature on June 1, 2005. Interest on the Exchange Notes is
    payable semi-annually on each June 1 and December 1. The Exchange Notes bear
    interest at the rate of 14.0% per annum. The Exchange Notes may not be
    redeemed prior to June 1, 2000, except in the event of a Change of Control
    (as defined) or Initial Public Offering (as defined) and at such applicable
    premium (as defined). The Exchange Notes are redeemable, at the Company's
    option, at the redemption prices of 105.875% at June 1, 2000, and at
    decreasing prices to 100% at June 1, 2003, and thereafter, with accrued
    interest. In addition, prior to June 1, 1998, the Company may redeem within
    guidelines specified in the Indenture, up to $3,000 of the Exchange Notes
    with the proceeds of one or more Equity Offerings (as defined) by the
    Company or Holding at a redemption price of 110%, with accrued interest.

    Industrial Revenue Bonds

    In connection with the Camden Acquisition the company assumed debt related
    to two Industrial Revenue Bonds (the "IRB's"), totaling $15,500. The IRB's
    are due in August 2005 and March 2016 in the amounts of $9,000 and $6,500
    respectively. The IRB's bear interest at a rate per annum which is tied to
    the Tax Exempt Money Market Index. Rates change weekly and interest is paid
    monthly.


                                      7

<PAGE>   10
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)


6.   PLANT CLOSING EXPENSE
     In March 1997, the Company recorded a pretax charge to operations of $500
     to provide for plant closing costs. The plant closing costs relate to
     consolidating a wire segment facility and include provisions for certain
     shut-down costs of $375 and severance related costs of $125. Following is
     a summary of activity in the accounts related to the plant closing
     activities:
 
<TABLE>
<CAPTION>
                                                      THREE MONTHS         THREE MONTHS
                                                         ENDED                ENDED
                                                     MARCH 31, 1997       MARCH 31, 1996
                                                    ----------------     ----------------
<S>                                                 <C>                  <C>
Balance, beginning of period .....................        $2,462               $  700
Charges to operations:                                                   
  Facility shut-down costs........................           375                2,500
  Lease commitments...............................            --                  570
  Key personnel and severance costs...............           125                  930
                                                          ------               ------
                                                             500                4,000
                                                          ------               ------
Costs incurred:                                                          
  Facility shut-down costs........................          (317)                  --
  Lease commitments...............................           (57)                  --
  Key personnel and severance costs...............          (118)                  --
                                                          ------               ------
                                                            (492)                  --
                                                          ------               ------
Balance, end of period ...........................        $2,470               $4,700
                                                          ======               ======
</TABLE>

7.   GUARANTOR SUBSIDIARIES
 
     The Senior Notes and Exchange Notes are fully and unconditionally (as well
     as jointly and severally) guaranteed on an unsecured, senior subordinated
     basis by each subsidiary of the Company (the "Guarantor Subsidiaries")
     other than Electro Componentes de Mexico, S.A. de C.V. and Wirekraft
     Industries de Mexico, S.A. de C.V. (the "Non-Guarantor Subsidiaries"). Each
     of the Guarantor Subsidiaries and Non-Guarantor Subsidiaries is wholly
     owned by the Company.
 
     The following condensed, consolidating financial statements of the Company
     include the accounts of the Company, the combined accounts of the Guarantor
     Subsidiaries and the combined accounts of the Non-Guarantor Subsidiaries.
     Given the size of the Non-Guarantor Subsidiaries relative to the Company on
     a consolidated basis, separate financial statements of the respective
     Guarantor Subsidiaries are not presented because management has determined
     that such information is not material in assessing the Guarantor
     Subsidiaries. 
 



                                      8
<PAGE>   11
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

<TABLE>
<CAPTION>
                                                                                              TOTAL                               
                                                                                 TOTAL         NON                                
                                                                  COMPANY      GUARANTOR    GUARANTOR   ELIMINATIONS       TOTAL  
                                                                  -------      ---------    ---------   ------------       -----  
<S>                                                              <C>           <C>            <C>         <C>            <C>      
BALANCE SHEET                                                                                                                     
As of March 31, 1997                                                                                                              
ASSETS                                                                                                                            
   Cash.......................................................   $     --      $   2,276      $ 1,549     $      --      $  3,825 
   Accounts receivable........................................         --        106,068          376          (412)      106,032 
   Inventory..................................................         --         72,830           --            --        72,830 
   Other assets...............................................      4,741          9,679           --            --        14,420 
                                                                 --------      ---------      -------     ---------      -------- 
      Total current assets....................................      4,741        190,853        1,925          (412)      197,107   
Property plant and equipment, net.............................         --        149,740        8,979            --       158,719 
Intangible assets, net........................................     23,401        247,980           --            --       271,381 
Investment in subsidiaries....................................    550,159             --           --      (550,159)           -- 
Other assets..................................................         --          5,962        1,138            --         7,100 
                                                                 --------      ---------      -------     ---------      -------- 
      Total assets............................................   $578,301      $ 594,535      $12,042     $(550,571)     $634,307 
                                                                 ========      =========      =======     =========      ======== 
                                                                                                                                  
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                
   Current liabilities........................................   $ 30,669      $ 100,891      $ 2,112     $    (412)     $133,260 
   Long-term obligations, less current maturities.............    489,268         21,550           --            --       510,818 
   Other long-term liabilities................................     15,532         18,846           10            --        34,388 
   Intercompany (receivable) payable..........................     19,229        (27,268)       8,039            --            -- 
                                                                 --------      ---------      -------     ---------      -------- 
      Total liabilities.......................................    554,698        114,019       10,161          (412)      678,466 
Stockholders' equity (deficit)                                
   Common stock...............................................         --             --           --            --            -- 
   Preferred stock............................................         --             --           --            --            -- 
   Contributed capital........................................    114,080        572,012           18      (572,030)      114,080 
   Predecessor carryover......................................         --        (67,762)          --            --       (67,762)
   Retained earnings..........................................    (90,477)       (23,734)       1,863        21,871       (90,477)
                                                                 --------      ---------      -------     ---------      -------- 
      Total stockholders' equity (deficit)....................     23,603        480,516        1,881      (550,159)      (44,159)
                                                                 --------      ---------      -------     ---------      --------
      Total liabilities and stockholders' equity (deficit)....   $578,301      $ 594,535      $12,042     $(550,571)     $634,307
                                                                 ========      =========      =======     =========      ========
</TABLE>




                                      9
<PAGE>   12
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)


<TABLE>
<CAPTION>
                                                                                   TOTAL
                                                                      TOTAL         NON
                                                        COMPANY     GUARANTOR    GUARANTOR   ELIMINATIONS     TOTAL
                                                        -------     ---------    ---------   ------------     -----
<S>                                                    <C>           <C>          <C>          <C>           <C>      
STATEMENT OF OPERATIONS
For the three months ended March 31, 1997
Net sales...........................................   $     --      $176,153     $ 8,566      $ (8,566)     $176,153
Operating expenses                                                                                            
   Cost of goods sold...............................         --       142,833       3,646        (8,566)      137,913
   Selling, general and administration..............         --        10,286       3,022            --        13,308
   Depreciation and amortization....................         --         7,077         434            --         7,511
   Impairment, unusual and plant closing charges....         --           500          --            --           500
                                                       --------      --------     -------      --------      --------
Operating income (loss).............................         --        15,457       1,464            --        16,921
Other income (expense)..............................                                                          
   Interest expense.................................    (12,011)           --          --            --       (12,011)
   Amortization of deferred financing fees..........       (995)           --          --            --          (995)
   Equity in net income (loss) of subsidiaries......     15,302            --          --       (15,302)           --
   Other............................................         --            14          (3)           --            11
                                                       --------      --------     -------      --------      --------
Income (loss) before income tax provision...........      2,296        15,471       1,461       (15,302)        3,926
Income tax provision................................         --         1,499         131            --         1,630
                                                       --------      --------     -------      --------      --------
Net income (loss)...................................   $  2,296      $ 13,972     $ 1,330      $(15,302)     $  2,296
                                                       ========      ========     =======      ========      ========
</TABLE>



                                      10
  
<PAGE>   13
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)



<TABLE>
<CAPTION>
                                                                                   TOTAL
                                                                      TOTAL         NON
                                                        COMPANY     GUARANTOR    GUARANTOR  ELIMINATIONS     TOTAL
                                                        -------     ---------    ---------  ------------     -----
<S>                                                    <C>           <C>           <C>          <C>        <C>  
STATEMENT OF CASH FLOWS
For the three months ended March 31, 1997
Net cash from operating activities...................  $(53,956)     $ 47,301      $ 2,047      $   --     $ (4,608)
                                                       --------      --------      -------      ------     --------
Cash flows provided by (used 
   in) investing activities:                         
   Acquisition, net of cash..........................        --       (58,996)          --          --      (58,996)
   Capital expenditures..............................        --        (2,402)        (636)         --       (3,038)
                                                       --------      --------      -------      ------     --------
Net cash used in investing activities................        --       (61,398)        (636)         --      (62,034)
                                                       --------      --------      -------      ------     --------
Cash flows provided by (used in) financing           
     activities:                                      
   Equity proceeds...................................        --            --           --          --           --
   Proceeds from issuance of long-term obligations...    48,489        16,511           --          --       65,000
   Repayment of long-term obligations................    10,095            --           --          --       10,095
   Cash dividends paid on preferred stock............    (1,378)           --           --          --       (1,378)
   Financing fees and other..........................    (3,250)           --           --          --       (3,250)
                                                       --------      --------      -------      ------     --------
Net cash from financing activities...................    53,956        16,511           --          --       70,467
                                                       --------      --------      -------      ------     --------
Net change in cash...................................  $     --      $  2,414      $ 1,411      $   --     $  3,825
                                                       ========      ========      =======      ======     ========
</TABLE>


                                      11
<PAGE>   14
 
                         INTERNATIONAL WIRE GROUP, INC.
 
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
 
<TABLE>
<CAPTION>
                                                 TOTAL          TOTAL
                                    COMPANY    GUARANTOR    NON-GUARANTOR    ELIMINATIONS     TOTAL
                                   ---------   ---------    -------------    ------------   ---------
<S>                                <C>         <C>          <C>              <C>            <C>
BALANCE SHEET
  As of December 31, 1996
ASSETS
  Cash...........................  $      --   $    (138)      $   138        $      --     $      --
  Accounts receivable............         --      70,010         1,902             (731)       71,181
  Inventory......................         --      59,648           714               --        60,362
  Other assets...................      5,375       4,314           112               --         9,801
                                   ---------   ---------       -------        ---------     ---------
          Total current assets...      5,375     133,834         2,866             (731)      141,344
  Property plant and equipment,
     net.........................         --     109,774         8,777               --       118,551
  Intangible assets, net.........     19,722     246,155            --               --       265,877
  Investment in subsidiaries.....    534,857          --            --         (534,857)           --
  Other assets...................         --       4,368           880               --         5,248
                                   ---------   ---------       -------        ---------     ---------
          Total assets...........  $ 559,954   $ 494,131       $12,523        $(535,588)    $ 531,020
                                   =========   =========       =======        =========     =========
 
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
  Current liabilities............  $  24,620   $  85,866       $ 2,856        $    (731)    $ 112,611
  Long term obligations, less
     current maturities..........    420,422       6,297            --               --       426,719
  Other long-term liabilities....      6,081      20,790            10               --        26,881
  Intercompany (receivable)
     payable.....................     76,260     (85,366)        9,106               --            --
                                   ---------   ---------       -------        ---------     ---------
          Total liabilities......    527,383      27,587        11,972             (731)      566,211
  Stockholders' equity (deficit)
     Common stock................         --          --            --               --            --
     Preferred stock.............          4          --            --               --             4
     Contributed capital.........    125,340     572,012            18         (572,030)      125,340
     Predecessor carryover.......         --     (67,762)           --               --       (67,762)
     Retained earnings...........    (92,773)    (37,706)          533           37,173       (92,773)
                                   ---------   ---------       -------        ---------     ---------
          Total stockholders'
            equity (deficit).....     32,571     466,544           551         (534,857)      (35,191)
                                   ---------   ---------       -------        ---------     ---------
          Total liabilities and
            stockholders' equity
            (deficit)............  $ 559,954   $ 494,131       $12,523        $(535,588)    $ 531,020
                                   =========   =========       =======        =========     =========
</TABLE>
 

                                      12
<PAGE>   15
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
 
<TABLE>
<CAPTION>
                                                                                 TOTAL
                                                                     TOTAL        NON
                                                       COMPANY     GUARANTOR   GUARANTOR  ELIMINATIONS     TOTAL
                                                       -------     ---------   ---------  ------------     -----
<S>                                                    <C>          <C>          <C>        <C>          <C>      
STATEMENT OF OPERATIONS
For the three months ended March 31, 1996
Net sales............................................  $    --      $118,807     $7,643     $(7,643)     $ 118,807
Operating expenses                                   
   Cost of goods sold................................       --        97,397      3,721      (7,643)        93,475
   Selling, general and administration...............       --         7,233      2,488          --          9,721
   Depreciation and amortization.....................       --         5,735        309          --          6,044
   Inventory valuation adjustment ...................       --         2,000         --          --          2,000
   Expenses related to plant closings................       --         4,000         --          --          4,000
                                                       -------      --------     ------     -------      ---------
Operating income (loss)..............................       --         2,442      1,125          --          3,567
Other income (expense)...............................
   Interest expense..................................   (9,572)           --         --          --         (9,572)
   Amortization of deferred financing fees...........     (723)           --         --          --           (723)
   Equity in net income (loss) of subsidiaries.......    3,401            --         --      (3,401)            --
   Other.............................................       --            89         --          --             89
                                                       -------      --------     ------     -------      ---------
Income (loss) before income tax provision............   (6,894)        2,531      1,125      (3,401)        (6,639)
Income tax provision.................................       --           100        155          --            255
                                                       -------      --------     ------     -------      ---------
                                                     
Net income (loss)....................................  $(6,894)     $  2,431     $  970     $(3,401)     $  (6,894)
                                                       =======      ========     ======     =======      =========
</TABLE>


                                      13
<PAGE>   16
                         INTERNATIONAL WIRE GROUP, INC.
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)

<TABLE>
<CAPTION>

                                                                                        TOTAL
                                                                          TOTAL          NON
                                                           COMPANY      GUARANTOR     GUARANTOR  ELIMINATIONS   TOTAL
                                                          ---------     ---------     ---------  ------------ --------- 
<S>                                                       <C>           <C>           <C>           <C>      <C>       
STATEMENT OF CASH FLOWS
For the three months ended March 31, 1996
Net cash from operating activities. . . . . . . . . . .   $  (8,280)    $   5,742     $   1,809     $   --   $    (729)
                                                          ---------     ---------     ---------     ------   --------- 
Cash flows provided by (used in) investing activities:
   Acquisition, net of cash . . . . . . . . . . . . . .    (160,259)           --            --         --    (160,259)
   Capital expenditures, net. . . . . . . . . . . . . .          --        (1,096)       (1,441)        --      (2,537)
                                                          ---------     ---------     ---------     ------   --------- 
Net cash used in investing activities . . . . . . . . .    (160,259)       (1,096)       (1,441)        --    (162,796)
                                                          ---------     ---------     ---------     ------   --------- 
Cash flows provided by (used in) financing
     activities:
   Equity proceeds. . . . . . . . . . . . . . . . . . .      45,039            --            --         --      45,039
   Proceeds from issuance of long-term obligations. . .     128,200            --            --         --     128,200
   Repayment of long-term obligations . . . . . . . . .       3,100            --            --         --       3,100
   Financing fees and other . . . . . . . . . . . . . .      (7,800)           --            --         --      (7,800)
                                                          ---------     ---------     ---------     ------   --------- 
Net cash from financing activities. . . . . . . . . . .     168,539            --            --         --     168,539
                                                          ---------     ---------     ---------     ------   --------- 
Net change in cash. . . . . . . . . . . . . . . . . . .   $      --     $   4,646     $     368     $   --   $   5,014 
                                                          =========     =========     =========     ======   ========= 
</TABLE>


                                      14
<PAGE>   17
                                    SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.




                                           INTERNATIONAL WIRE GROUP, INC.


Dated: November 7, 1997                    By: /s/ DAVID M. SINDELAR
                                              -----------------------------

                                           Name: David M. Sindelar
                                           Title : Senior Vice President



                                      15