HVAC Breaking News

ACR Group Releases Income Growth Figures For 2001

January 17, 2002
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HOUSTON, TX — The ACR Group Inc., an hvacr wholesale distributor with 47 locations in 10 states, reported sales for the quarter ending November 30, 2001. The results were encouraging.

Net income more than tripled to $1,104,000, up to $.10 a share from $.03 the previous period in 2000. Sales were $123.2 million, up 15% over 2000.

Commenting on the company’s third quarter results, Alex Trevino Jr., president and ceo, said, “Our third quarter operating results continued to reflect the positive trends established at the beginning of this fiscal year. While there was a momentary pause in business after the events of September 11, we regained our momentum quickly and generated same-store sales growth each month in the third quarter.

“We have also slightly increased our gross margin percentage in a difficult, competitive climate, and have reduced our operating expenses as a percentage of sales.”

Publication date: 01/14/2002

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