MIAMI — Watsco Inc., a distributor of HVAC and refrigeration equipment, reported record results for the second quarter and for the six months ended June 30, 2014. Among key performance metrics, revenues increased 4 percent to a record $1.17 billion. Gross profit margin increased 10 basis-points. Selling, general, and administrative expenses (SG&A) decreased 20 basis-points as a percentage of sales. Operating margins expanded 30 basis-points to a record 9.7 percent. Earnings per diluted share increased 8 percent to a record $1.60.

Albert Nahmad, Watsco’s president and chief executive officer, said, “Watsco delivered record performance and the highest operating margin for any quarter in our history driven by a combination of unit growth, a stronger sales mix of high-efficiency HVAC equipment, improved selling margins, and operating efficiencies.”