Lennox International Inc.
June 4, 2003
Lennox International Inc. announced first quarter 2003 diluted earnings per share of $0.04. In constant currencies and adjusting for the loss of $46 million heat transfer revenue, most of which is now part of the company's joint venture with Outokumpu and no longer reported by LII, total sales were up 1%. International sales generated 13% of total revenues. Consolidated operating income rose 20% to $10.6 million from $8.8 million. Net income was $2.5 million vs. a net loss of $248.7 million last year. Last year's net loss was affected by a $249.2 million after-tax goodwill impairment charge.