Financial News ... Watts Water Technologies
For the nine months, sales were up 20% to $618.2 million, while net income rose 64% to $38.7 million, compared to the 2003 period.
Net income for both the third quarter and the nine months included losses from discontinued operations.
The acquisitions of McCoy Enterprises, TEAM Precision Pipework Ltd., and Flowmatic Systems contributed to the positive results, the company said.
Internal sales growth in the North American wholesale market was 9% over the third quarter of 2003, which the company attributed to increased sales of backflow prevention units, as well as strength in its plumbing and under-floor radiant heating product lines. For more information, visit www.wattswater.com.