Miami-based Watsco, Inc. (NYSE:WSO)(PARIS:WSO) reported sales for the first quarter ended March 31, 2012, were up 19 percent to $634 million and up 7 percent on a same-store basis. Sales were up 12 percent for HVAC equipment (60 percent of sales), down 1 percent for other HVAC products (34 percent of sales) and up 11 percent for commercial refrigeration products (6 percent of sales).
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Profit increased 13 percent to $8.5 million.
Albert Nahmad, Watsco's president CEO, said: "We performed well in all areas of the HVAC equipment market from residential unitary through commercial. This performance was a result of our people working hard to provide a great customer experience for our contractors, which we will continue to enhance and improve in the months and years ahead."
