Trane announces price increase; Lennox reports earnings
TYLER, Texas – Trane’s Unitary Products Group, a division of American Standard Companies (NYSE:ASD), announced a price increase of 2% to 4% on selected one through five-ton residential unitary products. The increase will take effect on January 1.
Meanwhile, Lennox International reported (NYSE: LII) third quarter results for 2001. Total company sales were $827 million, down 4% versus last year, with foreign currency exchange accounting for one percentage point of the decline. Revenues outside the U.S. and Canada represented 12% of total corporate sales.
The company reported an operating profit of $41 million, up 1% from last year after adjusting for a $5 million restructuring charge taken in third quarter of 2000. Net income for the quarter was $15.2 million, flat versus last year.