ACHRNEWS

ACR Group Reports Improved Operating Results For Fiscal 2002

June 15, 2002
HOUSTON, TX — The ACR Group Inc., an HVACR wholesale equipment distributor with 46 locations in 10 states, reported significantly improved operating results and sales for the fiscal year and fourth fiscal quarter ended February 28, 2002.

For fiscal 2002, ACR reported net income of $419,000, compared with a net loss of $1,478,000 in fiscal 2001. Sales for fiscal 2002 were $155.5 million, compared with sales of $136.4 million in fiscal 2001, an increase of 14%.

Commenting on the company’s year-end and fourth quarter results, president and CEO Alex Trevino Jr. said, “Our fiscal 2002 performance rebounded very nicely from a disappointing year in fiscal 2001.

“We believe that we have outperformed the industry because of our geographical focus on the high-growth market in the Sunbelt and our ability to attract, retain, and motivate a very experienced field management team.”

Publication date: 06/17/2002