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A. O. Smith Corporation today announced record 2006 earnings of U.S. $76.5 million or $2.47 per share on record sales of $2.2 billion. Full-year operating cash flow exceeded $128 million.
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Net earnings were 65 percent higher than the $46.5 million earned in 2005, while sales increased 28 percent over the prior year.
The company also announced record fourth quarter earnings of $18.9 million or $.61 per share on sales of $543.6 million. Fourth quarter earnings were positively impacted by a lower tax rate equal to approximately five cents per share that resulted from higher than expected foreign earnings. Net earnings were $16.0 million or $.52 per share on sales of $434.0 million in the fourth quarter of 2005.
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