Watts Chairman and Chief Executive Officer, Timothy P. Horne, cited "soft conditions in the domestic plumbing markets" as the reason the company's sales were effected.
Watts Reports Second Quarter Earnings Results
Watts Industries Inc. met consensus earnings estimates of 26 cents per share for its second quarter. Net sales increased 3.3 percent to $135.56 million from $131.18 million for the comparable period one year ago. Net income decrease of 12.4 percent to $7.03 million for the quarter.