 |
Lock in savings now before June 1 rate increase! |
 |
Watsco, Inc., Coconut Grove, FL, an independent distributor of air conditioning, heating and refrigeration products, reported
sales for the second quarter 2009 were $405 million, down 21% from second quarter 2008. Profit declined 37.5% to $16.3 million.
For the first six months, sales were $696 million, a 22% decline over 2008. Profit decreased 55.2%
to $15.1 million.
Lower demand due to economic conditions, new housing declines and a late start
to the cooling season offset gains from a richer mix of high-efficiency air conditioning systems.
"We are pleased to see the continued trend toward high-efficiency and environmentally-friendly air
conditioning systems, especially in this current economic backdrop," said Albert H. Nahmad, president and CEO. "We
experienced higher unit ...
Watsco, Inc., Coconut Grove, FL, an independent distributor of air conditioning, heating and refrigeration products, reported
sales for the second quarter 2009 were $405 million, down 21% from second quarter 2008. Profit declined 37.5% to $16.3 million.
For the first six months, sales were $696 million, a 22% decline over 2008. Profit decreased
55.2% to $15.1 million.
Lower demand due to economic conditions, new housing declines and
a late start to the cooling season offset gains from a richer mix of high-efficiency air conditioning
systems.
"We are pleased to see the continued trend toward high-efficiency and environmentally-friendly
air conditioning systems, especially in this current economic backdrop," said Albert H. Nahmad, president and CEO. "We
experienced higher unit sales, increased pricing and higher selling margins in this product category,
representing 26% of this quarter's unitary equipment sales. This speaks well of their acceptance and
benefits offered to homeowners. We expect movement toward high-efficiency to accelerate once market conditions
for replacement air conditioning normalize to historical levels and pent-up demand begins to unwind."
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment