* Q1 EPS $0.10 vs loss/shr of $0.07 a year ago
* Q1 rev rise 75 pct, helped by JV
April 22 Watsco Inc (WSO.N), a distributor of
heating, air conditioning and refrigeration products, posted a
quarterly profit as its Carrier Enterprise joint venture drove
sales up 75 percent.
For the latest first quarter, the company posted earnings
of $2.9 million allocated to shareholders, or 10 cents a share,
compared with a loss of $2.0 million, or 7 cents a share, in
the year-ago period.
Revenue rose to $510 million and included $226 million of
sales added by Carrier Enterprise -- the joint venture Watsco
formed with Carrier Corp, a unit of United Technologies Corp
Watsco owns 60 percent stake in the joint venture that was
formed in July 2009.
On an adjusted basis, the company earned 13 cents a share.
Analysts on average were expecting earnings of 16 cents a
share, before special items, on revenue of $534.7 million,
according to Thomson Reuters I/B/E/S.
Shares of the company closed at $61.15 Wednesday on the New
York Stock Exchange.
(Reporting by Bijoy Koyitty in Bangalore;Editing by Aradhana