Watsco, Inc., distributor of air conditioning and heating products, reported sales of $1.8 billion in 2006, a 7% increase from 2005. Profit was $82.4 million.
Fourth-quarter sales were $388 million.
; “2006 was one of enormous change as virtually half the products we sell were transitioned to new families of higher-efficiency products. We expect these new products to provide a unique and sustainable sales opportunity for us given consumers’ high degree of sensitivity and focus on energy costs, President and CEO Albert H. Nahmad said.
The Watsco network expanded by 28 locations in 2006, including locations opened to enhance local service and locations acquired adding new customers, products and market share. Revenues contributed by new locations were about $30 million for the year.
Watsco operates 380 locations serving over 40,000 customers in 32 states.