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A. O. Smith Announces Record Earnings for 2010 and Provides 2011 GuidanceSubscribe to RSS feed

A. O. Smith Corporation (NYSE: AOS) reported 2010 earnings from continuing operations of $57.3 million or $1.24 per share on sales of $1.49 billion, which included an after-tax charge of $21.6 million, or $0.47 per share, associated with the flooding that impacted the company's Ashland City, Tenn., facility in May.  The discontinued Electrical Products operations earned $54.4 million or $1.18 per share on sales of $705.8 million.



The combined businesses earned a record $111.7 million, or $2.42 per share, in 2010. Earnings for 2009 were $81.3 million or $2.36 per share.  Non-GAAP earnings for 2009, excluding the impact of the SICO transaction, were $89.7 million or $1.97 per share.  In the fourth quarter, the combined businesses earned $32.2 million or $0.69 per share in 2010 compared with $22.7 million or $0.50 per share in 2009.  (more)