AAON 4Q Profit Up Nearly One-third
TULSA, Okla. (AP) ¿ Rooftop air conditioner and heater maker AAON Inc. said Wednesday fourth quarter profit climbed by nearly one-third on lower revenue due to higher volume and improved productivity.
Net income for the quarter ended Dec. 31 was $6 million, or 35 cents per share, up 32 percent from $4.6 million, or 24 cents per share, in the year-earlier period.
Sales were $60.2 million, down 3 percent from $62.1 million in the fourth quarter of 2007.
Analysts expected, on average, profit of 31 cents a share on revenue of $60.2 million from the Tulsa, Okla.-based company, according to a survey by Thomson Reuters.For the full year, net income was $28.6 million, or $1.60 per share, up 23 percent from $23.2 million, or $1.22 per share, in 2007. Wall Street expected $1.58 a share. Sales for 2008 were $279.7 million, up 6.6 percent from $262.5 million in 2007. Norman H. Asbjornson, president and chief executive, said AAON will not provide guidance for the year "due to uncertain market conditions." Shares rose 85 cents, or 5 percent, to $18.01 in afternoon trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV