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September 2, 2010 |
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| October 27, 2009 |
By: Deborah C. Espana |
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iami-based Watsco reported Tuesday an increase in profit for the quarter.
The air conditioning, heating and refrigeration firm said earnings for the quarter increased to $27 million, or 66 cents per share, from $23.3 million, or 81 cents per share for the same period a year earlier.
Watsco reported that revenue increased 56 percent, to $742 million from $475 million reported last year.
The overall revenue includes $337 million added by a joint venture formed with Carrier Enterprises.
For the nine months ending Sept. 30, earnings were $42.2 million, compared with $57 million a year ago.
Revenue for the same period increased 5 percent, to $1.4 billion from $1.36 billion in the same 2008 period.
Watsco shares were off slightly in trading late Tuesday to slightly above 52.
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