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Watsco Sales Down 6% in First Half

HVAC distributor Watsco, Inc., Coconut Grove, FL, reported sales decreased 7% to $471 million for the second quarter ended June 30, 2007.
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Revenues in the first six months declined 6% to $842 million. Profit for the first six months was $35.4 million, down from the $41.8 million recorded in the same period a year ago. New branches added $21 million of revenue during the first half of 2007.
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The Watsco network has expanded by 23 locations over the past 12 months, with a working capital investment related to these network expansion activities of $18 million as of June 30, 2007.
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Watsco recently announced it would acquire ACR Group Inc. , which had $240 million in sales in 2006. It has 54 locations in 10 ...

HVAC distributor Watsco, Inc., Coconut Grove, FL, reported sales decreased 7% to $471 million for the second quarter ended June 30, 2007.
&nbsp ;
Revenues in the first six months declined 6% to $842 million. Profit for the first six months was $35.4 million, down from the $41.8 million recorded in the same period a year ago. New branches added $21 million of revenue during the first half of 2007.
&nbsp ;
The Watsco network has expanded by 23 locations over the past 12 months, with a working capital investment related to these network expansion activities of $18 million as of June 30, 2007.
&nbsp ;
Watsco recently announced it would acquire ACR Group Inc. , which had $240 million in sales in 2006. It has 54 locations in 10 states.

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