A.O. Smith 1Q sales up 9% on U.S., China demand
A.O. Smith Corp. said Tuesday its fiscal first-quarter profits decreased on a restructuring charge and pension costs, but its net sales rose 9 percent on higher sales in the United States and China.
A.O. Smith (NYSE: AOS), the Milwaukee-based manufacturer of water heating equipment and boilers, had net earnings of $39 million, or 84 cents per share, compared with $47.5 million, or $1.02 per share, in the year-ago period.
First-quarter 2013 earnings included an after-tax restructuring and impairmentÃ¢;Â€Â¦;