It has been reported that Watsco Inc. has doubled its profit for the fourth quarter and the reason for it seems to be the increase in the revenue from the new joint venture in the past year.

This distributor of air conditioning, refrigeration products and heating has announced that the revenue had risen to about 68 per cent to an amount of $563.6 million of which $251 million worth sales was actually added from the joint venture with Carrier Corp which is a unit of the United Technologies Corp.

When compared to the profit of the previous year, Watsco had posted a profit which amounted to almost $7.1 million which is 21 cents for every share. This was quite a leap as the profit for the previous year was only $3.3 million which amounts to 10 cents for every share.

It was also reported that the earnings had risen from 12 cents to about 25 cents, which is the earning after excluding all the costs of transactions and also other impacts.

It was an interesting fact that the profit was actually more than expected even though there was a small slide earlier.