AAON'S Earnings Soar to Record High.TULSA, Okla. -- AAON AAON American Association of Office Nurses , Inc. (Nasdaq:AAON), today announced its operating results for the three months ended March 31, 2007, of $58.6 million in sales (up 9%), and $6.3 million of net income (up 70%), $0.50 per share, compared to $53.6 million in sales and $3.7 million in net income, $0.30 per share, a year ago. Per share earnings are on a diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis. Sales for the first quarter of 2007 were the highest of any first quarter in the Company's history and earnings were an all-time record for any quarter. Norman H. Asbjornson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated that, "The increase in sales was primarily attributable to price increases, whereas the increase in net income resulted from improved (record) margins brought about mainly by lower material costs and labor efficiencies, partially offset by an increase in SG&A expenses." Mr. Asbjornson added that, "Based on the first quarter results and other relevant factors, we expect 2007 to produce record sales and earnings." AAON Inc. is a manufacturer of air-conditioning and heating equipment consisting of rooftop units, chillers, air-handling units, condensing con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. units and coils. Its products serve the new construction and replacement markets. The Company has successfully gained market share through its "semi-custom" product lines, which offer the customer value, quality, function, serviceability (system) serviceability - The ease with which corrective maintenance or preventative maintenance can be performed on a system (e.g. by a hardware service technician). Higher serviceability improves availability and reduces service cost. Serviceability is one component of RAS. and efficiency. Certain statements in this news release may be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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