COCONUT GROVE, Fla. — Watsco Inc. reported record revenues, net income, and earnings per share for its fourth quarter and full year ended Dec. 31, 2013.
In the fourth quarter of last year, revenues increased 8 percent to a record $827 million, reflecting a 10 percent increase in sales of HVAC equipment, a 5 percent increase in sales of other HVAC products, and a 2 percent decrease in sales of commercial refrigeration products.
Gross profit increased 9 percent to a record $199 million with gross profit margin improving 10 basis-points.