Thursday, December 31, 2015

The growth was somewhat muted by the continued weak commercial

Segment operating earnings were $160.8 million, an increase of 20.4% from the $133.5 million in the prior year's second quarter.  Segment operating margin increased 250 basis points to 20.3% for the second quarter 2012, compared to 17.8% for the second quarter of 2011.

Segment revenues for the second quarter of 2012 increased 9.4% to $676.1 million, compared with $617.8 million in the second quarter 2011.  Core revenues were 4.2% higher than prior year, with acquisitions adding 6.2% and currency translation decreasing reported results by 1.0%.  Core revenue growth was driven by industrial and commercial products relating to large energy projects and continued robust demand for energy efficient products.  The growth was somewhat muted by the continued weak commercial and residential construction markets.

Segment operating earnings were $99.9 million, an increase of 7.3% from the $93.1 million reported in the prior year's second quarter.  Segment operating margin decreased 30 basis points to 14.8% for the second quarter of 2012, compared to a second quarter 2011 of 15.1%.   Excluding the impact from acquisitions, segment operating margin increased 50 basis points to 15.6%.

announced today that Robert Kapusta, Jr. has been appointed as Chairman of the Board of Directors. Robert is an attorney at Fisher & Sauls, P.A. specializing in Mergers and Acquisitions, Tax and Estate Planning, and Business and Corporate Law, with extensive expertise in leading and growing emerging businesses in St. Petersburg. Among his many affiliations, Rob is serving as the Chairman of the St. Petersburg Downtown Partnership and Chairman of the Mahaffey Theater Foundation.

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