| Trane Reports 2007 Record Results, Provides 2008 Outlook
PISCATAWAY, N.J., Jan. 29 /PRNewswire-FirstCall/ -- Trane Inc. (NYSE: TT) today announced fourth-quarter income from continuing operations (Trane Air Conditioning Systems and Services) of 32 cents per diluted share, down from 36 cents a year ago. Fourth-quarter 2006 results included a benefit of 10 cents related primarily to the sale of some operations in Australia and tax items. Adjusted income from continuing operations was 33 cents per diluted share, up 27 percent from 26 cents a year ago. Adjusted income excluded various costs and benefits that are detailed in the financial charts that follow this text. Sales from continuing operations were $1.82 billion, up 14.2 percent (up 11.9 percent in local currencies). Both the company's former Vehicle Control Systems (WABCO) and Bath and Kitchen segments are classified as discontinued operations.
American Standard finishes year with Trane ride
It has been anything but a standard year for American Standard. The Piscataway-based company completed the sale of its renowned bath and kitchen business and spun off its vehicle-control systems operation to focus solely on its more-profitable air-conditioning and heating systems. And Wednesday, it completed its three-way business split by announcing its name change to Trane, to identify with its popular HVAC brand. "Everyone has been clearly focused on the separation plan, and we're in the final stages," company spokesman Skip Colcord said. It was February when American Standard Chief Executive Officer Fred Poses announced that the company, which employs about 1,450 in New Jersey, would separate into three units in the hopes of creating greater shareholder value for its varied operations.
Trane Directors Declare Quarterly Dividend of 16 Cents Per Share of ...
PISCATAWAY, N.J., Feb. 7 /PRNewswire-FirstCall/ -- The board of directors of Trane Inc. (NYSE: TT) today declared a quarterly dividend of 16 cents per share of common stock. The dividend is payable on March 20, 2008, to shareholders of record on March 3, 2008. On Dec. 17, 2007, Trane announced that it had entered into an agreement to be acquired by Ingersoll-Rand Company Limited (NYSE: IR) . The agreement is expected to be finalized in the second quarter of 2008. About Trane Trane Inc. provides heating, ventilation and air conditioning (HVAC) systems and services that enhance the quality and comfort of the air in homes and buildings around the world. The company offers customers a broad range of energy-efficient HVAC systems; dehumidifying and air cleaning products; service and parts support; advanced building controls; and financing solutions.
For Mariners, it's Erik Bedard at No. 1
PEORIA, Ariz. — Even filling out medical forms, lean-and-mean Felix Hernandez was the center of attention. Hernandez had already lost his job as the Mariners' No. 1 starter before the first pitch of spring training had been thrown. As he sat quietly at a clubhouse table Wednesday, patiently handling paperwork in triplicate, he kept being interrupted by teammates, coaches and trainers. "Did you lose more weight?" they asked. Yes, the 21-year-old would nod with a smile. Hernandez says he's down to 218 pounds, nine less than last February, when his weight loss generated headlines across baseball. "I was working out like I did last year," Hernandez said. "It gets easier." Weight-loss stories are about as common to spring training as palm trees and soon-to-be-broken promises.
Tesoro, Seawater AC, Hoku Scientific and Wall Street
Tesoro, owner of the larger of Hawaii's two refineries, says gasoline price margins have shrunk so it will make less gasoline. Tesoro says its Kapolei refinery will be dialed back to as little as 74% capacity. Here's an alternative to oil for downtown office buildings. Honolulu Seawater Air Conditioning has lined up more than 10 million dollars in equity financing. U.S. and Swedish investors are chipping in for a zero emissions seawater air conditioning plant. Downtown building owners could save a fifth of their air conditioning costs by using seawater instead of a system-based on freon. Hoku Scientific has installed two solar power systems on neighbor islands. Its newest turnkey photovoltaic systems are at the Lihue and Kona operations of Paradise Beverages. The company uses a lot of power to refrigerate its warehouses, since it's the Hawaii distributor of Coors, Corona, Miller and Heineken.
Electrical system controls AC units, lowers energy use
Manufacturer of electrical equipment, cable management systems and wiring accessories, Legrand, has developed energy saving occupancy sensors known as the Wattstopper system. The product is based on passive infrared and ultrasonic technologies, are designed to monitor and control lighting and temperature levels in domestic, commercial and industrial applications. “Recently launched Wattstopper switches and sensors turn lighting and air-conditioning off in unoccupied areas," says Legrand South Africa national sales manager Timothy Mountjoy. “This saves users hours of wasted energy each day, thereby ensuring substantial energy savings at a crucial time in this country," he says. Wattstopper low temperature sensors are designed for installation in cold storage facilities and freezers, and operate on the basis of passive infrared technology that senses occupancy by detecting the difference between heat emitted from the human body in motion and the background space.
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