Emco Ltd. Increases 2002 Profit Estimates
Emco Limited (London, Ontario, Canada), said its diluted earnings per share for the third quarter of 2002 should be in the range of 47 cents to 53 cents (U.S.) compared with 31 cents (U.S.) per share last year. The wholesaler attributes this to continuing positive trends in margin and expense management and continued demand for its products. This includes both plumbing and waterworks products and manufactured building products.
The stronger results for the third quarter should boost diluted earnings per share for the year 2002 to the range of $1.03 to $1.10 (U.S.) vs. the previous forecast of 88 cents to 94 cents (U.S.) per share. The company said it expects this trend to continue into 2003.
Emco Ltd. is a distributor and manufacturer of building products for the residential, commercial and industrial construction markets. It was ranked No. 12 in Supply House Times' Premier 150 listing of wholesalers.