PISCATAWAY, NJ — American Standard, the Piscataway, NJ-based plumbing products giant, has announced that it has earned record sales and income for the third quarter of 2005.
The publicly traded manufacturer reported that sales for the three-month period rose 9.5% over those of the same quarter a year ago, to $2.62 billion. Net income increased 2%, to $159.1 million, the company said.
American Standard’s gains, however, were attributable to advances in two of the company’s three operating units – specifically, Air Conditioning Systems and Services and Vehicle Control Systems. In contrast, the company’s Bath and Kitchen unit posted lower earnings, and “will continue to challenge us in the fourth quarter,” the company observed.
Bath and Kitchen sales for American Standard totaled $590 million, down 2% from a year ago, American Standard reported.
“Although Bath and Kitchen’s manufacturing issues were largely behind us by the end of the quarter, we’re taking further actions as part of our plan to get Bath and Kitchen on track,” said chairman and CEO Fred Poses.
Poses said the company is simplifying its product lines and business processes, while “focusing on new products that give consumers improved performance as well as design.”
He added that American Standard is “investing in upcoming product launches that we expect to improve volume and mix.”