AMTROL Inc. announced 2005 second quarter net sales of $56.1 million. The figure represents an increase of $3.4 million or 6.5 percent compared to the second quarter of 2004. The company, which produces flow and expansion control products, also reported earnings before interest, taxes, depreciation and amortization of $6.1 million, a decrease of $1.4 million compared to the second quarter of 2004.
For the first six months of 2005, AMTROL reported net sales of $111.1 million, an increase of $5.8 million or 5.5 percent from the same period in 2004. EBITDA for the first six months of 2005 was $12.0 million, a decrease of $1.7 million from the same period in 2004, AMTROL said in a release.
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The company said the increase in net sales was due to implemented price increases during the second half of 2004 to offset rising steel costs and the strengthening of the Euro against the U.S. dollar mitigated by a reduction in volume. The decrease in EBITDA was mostly due to a decrease in volume.
Gross profit for the second quarter of 2005 decreased $1.2 million or 9.6 percent from the second quarter of 2004. For the first six months of 2005, gross profit decreased $1.4 million or 5.8 percent from the first six months of 2004. As a percentage of net sales, the gross profit percentage for the first six months decreased from 22.8 percent in 2004 to 20.3 percent in 2005. The decrease was due principally to a decrease in volume.
