April 20, 2012 | last updated June 1, 2012 2:03 pm

U.S. remodeling lights up Hubbell's 1Q sales, net

Steady U.S. home and commercial remodeling activity lifted first-quarters sales and profits for Shelton electrical and electronic products maker Hubbell Inc.

In three months ended March 31, Hubbell netted $63.6 million, or $1.05 a fully diluted share, up from $50.3 million, or 82 cents a share, netted the same period last year.

First-quarter sales climbed 10 percent to $723.8 million from $658.1 million a year earlier.

Hubbell Chairman and CEO Timothy H. Powers said its lighting switches, ballasts and fixtures are among its most popular products with remodelers, demand that so far is taking up slack in soft U.S. new housing and commercial construction.


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