HVAC equipment maker Lennox International Inc. said that it expects to report improved income from continuing operations in the first and second quarters of 2004, excluding items.
Lennox delayed filing financial statements for the first quarter, which ended in March, while it investigated accounting errors at its Service Experts business. In the first quarter, Lennox recorded a pre-tax goodwill impairment charge of about U.S. $210 million related to the Service Experts business.
Analysts surveyed by Thomson First Call have predicted that first-quarter earnings will be $0.10 per share, and second-quarter earnings will reach $0.53 per share. Analyst estimates typically do not include one-time gains and losses.
Lennox is scheduled to report first- and second-quarter earnings on Aug. 18. (AP)
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