Watsco Sales Up 16% in 2Q
Watsco Inc., Coconut Grove, FL, distributor of air conditioning and heating products, reported revenues grew 16% to $512 million for the second quarter ended June 30, 2006. Revenues grew 15% on a same-store basis. Net income was up 28% to $28.7 million.
For the six months ended June 30, 2006, revenues grew 15% to $906 million, with revenue growth of 14% on a same-store basis. Net income was up 32% to $41.8 million.
Albert H. Nahmad, Watsco's President and Chief Executive Officer, stated: "Strong demand for our products, higher prices related to the launch of new, higher-efficiency air conditioning systems and improved margins combined to produce terrific top and bottom-line performance. New ...