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UPDATE 1-Watts Water posts Q2 net loss

Tue Jul 28, 2009 5:14pm EDT

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* Q2 loss/shr $0.10 vs EPS $0.54 a year ago

* Q2 sales fall 19 pct to $312.4 mln

July 28 (Reuters) - Plumbing products supplier Watts Water Technologies Inc (WTS.N) posted a quarterly loss, hurt by lower revenue across all its markets.

For the second quarter, the company reported a loss of $3.6 million, or 10 cents a share, compared with a profit of $19.8 million, or 54 cents a share, a year ago.

Sales fell 19 percent to $312.4 million. Sales in the North American wholesale market decreased 17 percent while those in the European market fell 19 percent.

"Our results for the second quarter continued to be negatively affected by a weak U.S. commercial construction market and recessionary pressures in Europe," said Chief Executive Patrick O'Keefe.

Analysts on average were expecting earnings of 28 cents a share, before special items, on revenue of $310.8 million according to Reuters Estimates.

Shares of the North Andover, Massachusetts-based company closed at $23.39 Tuesday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Jarshad Kakkrakandy)



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