Emco reports fourth quarter, year results
Emco Limited (London, Ontario) reported a net loss of $1.25 million (U.S.) for the fourth quarter ended Dec. 31, 2000, compared to a net loss of $508,000 the previous year. Total sales for the quarter were $194 million, down 3% from $199 million last year.
Distribution's fourth quarter wholesale sales of plumbing and related products in Canada were 3% lower than last year. Sales for Pro-Fit Piping Components, Emco's master distributor of carbon steel flanges and fittings, were up 2% for the quarter.
For the year, net earnings were $1.13 million vs. $6.86 million for 1999. Sales of $799,808 were basically flat compared with the prior year.