Strong December Distributor Sales Reaffirm Tax Credits' Impact
Heating, Airconditioning and Refrigeration Distributors International (HARDI) announced North American HVACR average distributor sales for December closed out 2010 in line with the association’s forecast; but failed short of most manufacturer and analyst projections going into the year.
HARDI’s Monthly Targeted and Regional Economic News for Distribution Strategies (TRENDS) Report showed average growth for the month of 17% versus December 2009, undoubtedly driven by the impending expiration of the full $1,500 residential tax credits. The running 12-month sales improved for the fifth consecutive month meeting the top end of HARDI’s 2010 growth projections at just over 10%. Four U.S. HARDI regions and Canada finished the year up in double digits.
For the second consecutive month, Average Days Sales Outstanding continued to decline falling much more in line with distribution averages. Average distributor sales per employee inched up again after a modest increase last month.
For the full report, read here.