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Watsco Inc. (NYSE: WSO), Miami, FL, reported sales for the first quarter of $762.6 million, up 6.9 percent from the previous year. Profit was $16.8 million, up 25.2 percent from the first quarter of 2013.
"We experienced healthy demand for residential products in the United States, which grew 13 percent, from strong unit growth and a better sales mix of high efficiency systems," said Albert Nahmad, president and CEO. "We are off to a strong start and believe 2014 will be a record year for our company."
HVAC sales increased 8 percent, commercial refrigeration products increased 2 percent and non-equipment HVAC product sales were up 5 percent.