Nortek Q3 Profit Rises - Quick Facts

(RTTNews) - Nortek, Inc. (NTK), a global diversified industrial company with leading brands and innovative air management and technology-driven solutions for residential and commercial applications, reported that its third-quarter net earnings increased to $4.6 million or $0.29 per share from $4.2 million or $0.27 per share, last year.

Net sales increased to $642.9 million, from $589.2 million in the third quarter of 2013. The company's acquisition of Thomas & Betts' HVAC business contributed $38.0 million to net sales during the third quarter of 2014. Analysts polled by Thomson Reuters expected revenue of $631.63 million for the quarter.

The company expects to conclude 2014 with a solid fourth quarter and deliver increased profitability for the year compared to 2013.