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.
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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.
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ACR had more than $240 million in annual sales in 2006.
ACR Group Hit by Residential Slowdown
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 ...
  ;
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 ...
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