Watsco, Inc., Miami, FL, reported first quarter sales of $291 million, a decline of 23% over 2008. The independent distributor of air conditioning, heating and refrigeration products recorded a loss of $1.2 million for the period, compared to profit of $7.6 million the prior year.
The economic environment continued to take its toll on the seasonally slower first quarter. We are pleased with the continued improvement in sales mix of more energy-efficient and environmentally friendly products in this current market environment, said Albert H. Nahmad, president and CEO. “We anticipate this trend will continue as we move into the replacement season during the summer months."
Sales results were impacted by the economic environment, especially …
Watsco Records $1.2 Million Loss In 1Q
Watsco, Inc., Miami, FL, reported first quarter sales of $291 million, a decline of 23% over 2008. The independent distributor of air conditioning, heating and refrigeration products recorded a loss of $1.2 million for the period, compared to profit of $7.6 million the prior year.
The economic environment continued to take its toll on the seasonally slower first quarter. We are pleased with the continued improvement in sales mix of more energy-efficient and environmentally friendly products in this current market environment, said Albert H. Nahmad, president and CEO. “We anticipate this trend will continue as we move into the replacement season during the summer months."
Sales results were impacted by the economic environment, especially …
Share this article
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
