July 17, 2008 - 08:12 a.m.
MILWAUKEE (AP) - Electrical and water products creator A.O. Smith Corp. said Thursday its second-quarter profit rose more than 18 percent taken in the character of sales of its water devices surged in China.
In the three months ended June 30, the company earned $31.9 million, or $1.06 per share, compared with $27 million, or 87 cents per share, for the period of the same period a year earlier.
The most recent allot includes a 3 cent per share bills and notes; circulating medium gain related to the closure of A.O. Smith's business in Budapest, Hungary.
Analysts had expected the company to earn 78 cents per share, according to a survey by Thomson Financial.
Revenue increased to $622.2 million from $611.5 million. Analysts forecast revenue of $606 million.
Sales at the crew's larger water products division rose 7.5 percent $380.8. China sales accounted for about $51 million of the difference's total, which the company called an increase of more than 30 percent.
Electrical division sales fell about 6 percent to $242.4 the multitude.
"Our operating units are performing thoroughly in the most difficult economy in recent memory," Paul W. Jones, presiding officer and chief executive officer, said in a mention.