Weak Residential HVAC Demand and Housing Activity Impact NTK Holdings Q1 2007 Earnings

NTK Holdings' Q1 2007 operating earnings were negatively impacted by weak industry demand in the residential HVAC market, a lower level of housing activity, and higher material costs. These factors were partially offset by strategic sourcing and price increases.

“Operating earnings were impacted in the first quarter of 2007 by weak industry demand in the residential HVAC market, a lower level of housing activity and higher material costs, which were partially offset by continued strategic sourcing initiatives as well as sales-price increases.”

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