Economics ...Lennox International Inc.
September 1, 2003
Lennox International Inc. announced second quarter 2003 diluted earnings per share (EPS) of $0.51 versus $0.43 for the same quarter in 2002. Sales decreased 1% to $819 million from $828 million in last year's second quarter. In constant currencies and adjusting for the loss of $49 million in heat transfer revenues -- most of which are now part of the company's joint venture with Outokumpu and no longer reported by LII -- total sales were up 2%. Sales outside the U.S. and Canada generated 13% of total LII revenues. Net sales for the first six months of 2003 were $1.469 billion, compared to $1.502 billion during the same period last year.