Lennox International announced its sales for the full year of 2003 were $3.1 billion, up 7% from 2002 when adjusted for heat transfer revenue of $129 million included in the prior-year's sales. These are now a part of Lennox's joint venture with Outokumpu.
Sales outside the United States accounted for 13% of Lennox's total revenue. Before the cumulative effect of an accounting change in 2002, net income increased 31% in 2003 to $77 million, and diluted earnings per share rose from $1 to $1.28.