Ingersoll-Rand profit falls 7 pct in first quarter

April 23 Tue Apr 23, 2013 7:16am EDT

April 23 (Reuters) - Ingersoll-Rand Plc, the maker of Trane air conditioners, Schlage locks and Thermo King mobile refrigeration units, reported a 7 percent decline in earnings due to weak demand for its commercial heating and cooling systems and industrial products.

Net income for the first quarter fell to $94.6 million, or 29 cents per share, from $102.2 million, or 31 cents per share, a year earlier.

Revenue declined by 1 percent to $3.11 billion.

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