HVAC Market Softness Due to Reduced Tax Incentives and Housing Weakness

Regal Beloit reported a 9.7% decrease in North American residential HVAC net sales in Q2 2011 compared to Q2 2010, attributing the decline to reduced federal tax incentives for high efficiency products and continued weakness in the housing market.

“North American residential HVAC net sales decreased 9.7% in the second quarter 2011 compared to the second quarter 2010, due primarily to the reduced federal tax incentives for high efficiency products and continued weakness in the housing market.”

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