AAON Inc. reports record second-quarter sales
By Staff Reports on Aug 9, 2013, at 2:23 AM Updated on 8/09/13 at 4:43 AM
Asbjornson
Manufacturing
In just 12 years, natural gas plant builder Thomas Russell Co. grew from a Tulsa startup to a $750 million company.
Verallia North America's glass plant in Sapulpa is shutting down one furnace for the rest of the year because of slack demand.
Rooftop air-conditioning and heating unit maker AAON Inc. reported record second-quarter sales and earnings Thursday.
Tulsa-based AAON's management noted the company generated 13 percent profit per each dollar of sales and contended that may be the best such statistic in the history of the HVAC (heating, ventilation and air conditioning) industry.
"The second-quarter increases in sales and income from operations primarily reflect price increases and a decline in cost of materials," CEO Norman Asbjornson said in a statement. "The company's backlog increased from $62.2 million at June 30, 2012, to $66.2 million at June 30, 2013, but declined from the record of $71.7 million at March 31, 2013."
Net income totaled $12.1 million, up 30 percent from $9.3 million during the same period a year ago. Sales surpassed $91 million, nearly $8 million higher than 2012's second quarter.
AAON's general expenses and cost of sales, however, also increased in the three months ending June 30.
Asbjornson also sounded a note of caution as the company head toward the end of the year.
"While we still anticipate record sales and profits for 2013, there has been a noticeable softening in our market which has lowered our expectations for the balance of the year as compared to the first half of the year," he said.
AAON also had a record year in 2012. Sales last year broke $300 million for the first time in the manufacturer's history.
The company makes heating and air equipment such as rooftop units, chillers, air-handling, condensing, heat recovery and commercial units and coils.
AAON serves the new construction and replacement markets.
AAON Inc. earnings
|
2013 |
2012 |
2013 |
2012 |
|
2Q |
2Q |
Half-year |
Half-year |
| Revenue |
$91.2 M |
$83.3 M |
$158.07 M |
$148.29 M |
| Net income |
$12.1 M |
$9.3 M |
$19.26 M |
$13.86 M |
| Net per share |
$0.33 |
$0.25 |
$0.52 |
$0.37 |
Original Print Headline: Tulsa-based AAON reports record sales
Manufacturing
In just 12 years, natural gas plant builder Thomas Russell Co. grew from a Tulsa startup to a $750 million company.
Verallia North America's glass plant in Sapulpa is shutting down one furnace for the rest of the year because of slack demand.
