DALLAS, TX — Lennox International Inc. (LII) has reported third quarter 2002 results that show substantial growth in margins and profitability. GAAP (generally accepted accounting principles) income for the quarter increased more than 80% to $28 million from $15 million in the same period last year. GAAP earnings per diluted share were up 70% to $0.46 from $0.27 a year ago.
Reported operating income grew 28% to $53 million, while operating margins expanded to 6.4% from 5.0% last year. These improvements were realized despite a 1% decline in total revenues to $819 million from $825 million in third quarter 2001.