In HVAC, our volume was down related to an unusually warm winter, the reduction of high efficiency consumer incentives, and the R22 dry ship, mix shift. Outside of our operating performance, highlights in the quarter included; first, launch of 20 new products, nine of which were energy efficient products.Second, we were awarded supplier of the year, and most innovative supplier of the year by two of our top 20 customers. Third, we were able to reduce the warranty accrual that we took in the second quarter by $15.4 million.
REGAL-BELOIT's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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