Honeywell (Morris Township, NJ) announced that 2000 ongoing earnings per share (EPS) were $2.83, an increase of 6% compared to 1999 EPS of $2.68. Reported earnings per share, including the gain on the sale of the former Honeywell TCAS product line and a net provision for asset impairments, repositioning, environmental and other charges, were $2.05. According to Michael R. Bonsignore, chairman and ceo, “As we draw closer to the completion of our merger with GE, I am confident that the combination of our businesses will lead to greater value creation for both shareowners and customers.”
Nortek, Inc. (Providence, RI), a designer, manufacturer, and marketer of building products used internationally, announced that net sales for 2000 were approximately $2.2 billion, a 10% increase from approximately $2 billion for 1999. Diluted net EPS were $3.70 compared to the $4.11 reported for 1999, on approximately 736,000 fewer average-shares outstanding. The company said all three of Nortek’s operating groups achieved increases in net sales, led by Air Conditioning and Heating Products, which increased net sales by approximately 16%; Windows, Doors, and Siding Products by approximately 13%; and Residential Building Products by approximately 4%.
Amana Heating and Air Conditioning (Fayetteville, TN) has selected Solid Edge from Unigraphics Solutions Inc., St. Louis, MO, as its mechanical computer-aided design software system. The hvac equipment manufacturer was said to have selected Solid Edge based on its superior ability to design its products. Solid Edge is a Windows-native CAD system.
PowerCold Corp. (Cibolo, TX) said that its NauticonTM evaporative cooling systems can reduce construction and operating costs for new power plants by reducing energy costs for major users. The company recommends that California state lawmakers consider incentives to businesses for installing energy-saving devices such as the company’s evap cooling systems. PowerCold is an energy company targeting commercial businesses that can significantly benefit from its energy-related products.
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