Last $75.77 USD
Change Today +0.33 / 0.44%
Volume 167.4K
NTK On Other Exchanges
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

nortek inc (NTK) Snapshot

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07/2/14 - $92.30
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10/8/13 - $65.95
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nortek inc (NTK) Details

Nortek, Inc. manufactures and sells products for remodeling and replacement, residential and commercial new construction, manufactured housing, and personal and enterprise computer markets primarily in the United States, Canada, and Europe. It operates through five segments: Residential Ventilation, Technology Solutions, Display Mount Solutions, Residential Heating and Cooling, and Custom & Engineered Solutions. The Residential Ventilation segment offers kitchen range hoods; exhaust fans, such as bath fans, and fan, heater, and light combination units; and indoor air quality products comprising air exchangers and heat or energy recovery ventilators, as well as central vacuum systems. The Technology Solutions segment provides security and access control equipment and systems, including control panels, keypads and telephone entry systems, radio transmitters, window and door contacts, lighting control devices, and garage and gate operators; residential audio/video and home automation solutions, such as whole-house audio/video products, and home automation systems, as well as accessories, which comprise power conditioners and surge protectors; and professional video signal management solutions. The Display Mount Solutions segment offers wall mounts, carts, arms, desk mounts, workstations, and stands that attach to or support various display devices, including notebook computers, computer monitors, and flat panel displays. The Residential Heating and Cooling segment provides split-system and packaged air conditioners, and heat pumps; air handlers; furnaces; and related equipment, accessories, and parts. The Custom & Engineered Solutions segment offers custom-designed and engineered HVAC products and systems for healthcare and educational facilities, commercial offices, manufacturing facilities, clean rooms, data centers, and governmental buildings. Nortek, Inc. was founded in 1967 and is headquartered in Providence, Rhode Island.

9,600 Employees
Last Reported Date: 03/11/14
Founded in 1967

nortek inc (NTK) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $925.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $577.6K
Senior Vice President, General Counsel, Secre...
Total Annual Compensation: $487.4K
Compensation as of Fiscal Year 2013.

nortek inc (NTK) Key Developments

Nortek Names Jeffrey Mueller as Group President, Residential Ventilation

Nortek Inc. announced the appointment of Jeffrey L. Mueller as group president of its Residential Ventilation (RESV) segment. He replaces David Pringle, who has retired from the company. Mueller joins Nortek with 25 years of manufacturing, sales and marketing experience in the kitchen and bath products industry. He had been with Kohler Co. since 1991, most recently serving as managing director of KB Latin Americas, where he built the business through production localization, distribution expansion, importation and brand building. Mueller previously served for four years as president of Kohler faucets worldwide where he delivered strong growth on both the top and bottom lines. While at Kohler, Mueller held leadership positions for a number of businesses serving both domestic and international markets.

Sean P. Burke, Group President, Technology Solutions Group to Leave Nortek Inc., Effective September 1, 2014

Sean P. Burke, Group President, Technology Solutions Group of Nortek Inc., will be leaving his position with the company to pursue other interests, effective September 1, 2014.

Nortek Inc. Announces Unaudited Consolidated Earnings Second Quarter Ended June 28, 2014; Announces Impairment of Long-Lived Assets and Goodwill for the Second Quarter Ended June 28, 2014; Provides Earnings Guidance for the Full Year of 2014

Nortek Inc. announced unaudited consolidated earnings second quarter ended June 28, 2014. For the quarter, the company reported net sales of $718.6 million against $630.7 million a year ago. Operating loss was $32.1 million against $40.4 million a year ago. Loss before provision for income taxes was $60.5 million against profit before provision for income taxes of $15.7 million a year ago. Net loss was $46.2 million against net income of $11.5 million a year ago. Diluted loss per share was $2.97 against diluted earnings per share of $0.73 a year ago. Adjusted EBITDA was $88.6 million against $81.5 million a year ago. Adjusted operating earnings were $59.2 million against $50.5 million a year ago. Net cash used in operating activities was $7.9 million, compared with $28.3 million of net cash provided by operating activities in the second quarter of 2013. Capital expenditures were $10.4 million, compared with $11.2 million in last year's second quarter. Impairment of long-lived assets and goodwill was $80.4 million for the second quarter ended June 28, 2014. The company is on track to achieve solid growth and improved profitability in 2014.


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