ACR Group, Inc., Houston, TX, distributor of heating, ventilation and air conditioning equipment and supplies, reported profit dropped more than 50% in the first quarter ended May 31, 2007. Sales were down 4% to $59.5 million.   ; ACR, which just agreed to be purchased by HVAC distributor Watsco, said the year-over-year decline in revenue and profitability was attributable to a weakening in key geographies, including Florida and Nevada, with high exposure to residential new construction end-markets. ACR also blamed the slow results on cooler- than-normal weather conditions.   ; ACR had more than $240 million in annual sales in 2006.