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UPDATE 1-Comfort Systems Q4 profit drops 39 pct
March 1, 2010 / 11:04 PM / 8 years ago

UPDATE 1-Comfort Systems Q4 profit drops 39 pct

* Q4 EPS $0.20 vs $0.32 year ago

* Q4 revenue drops 22 pct

* Sees solid profitability in 2010

March 1 (Reuters) - Comfort Systems USA Inc (FIX.N), a provider of heating, ventilation and air conditioning services, posted a 39 percent drop in quarterly profit, hurt by lower sales volumes, but said it expects solid profitability in 2010.

“We anticipate solid profitability in 2010 and we believe we can improve our competitive position in the markets we serve,” Chief Executive Bill Murdy said in a statement.

For the fourth quarter, the company reported net income of $7.6 million, or 20 cents per share, compared with $12.5 million, or 32 cents per share, a year ago.

Revenue fell 22 percent to $256.7 million.

Analysts on average were expecting the company to earn 18 cents a share, before special items, on revenue of $274 million, according to Thomson Reuters I/B/E/S.

Shares of the Houston-based company closed at $12.13 Monday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Maju Samuel)

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