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11270 West Park Place

Milwaukee, WI 53224

USA

Phone	414.359.4000
Fax	414.359.4064

Company Information

Company Information
Industry	Electric Utilities, Power Generation, and Equipment Manufacturing

# of Employees	18000

Ownership	Public Company

SIC Code	3621

Company Security Requirements	1. Very High

Company Storage Requirements	1. Very High

Fortune 1000 Rank	815

Description

A.O. Smith Corporation is a manufacturer of electric motors and water heating equipment, serving a diverse mix of residential, commercial and industrial end markets principally in the United States. The Company's company is organized in two operating segments: electrical products and water systems. The Company's electrical products business manufactures and markets a comprehensive line of hermetic motors, fractional horsepower alternating current (AC) and direct current (DC) motors, and integral horsepower motors. The Company's water systems business manufactures and markets a comprehensive line of residential gas and electric water heaters, standard and specialty commercial water heating equipment, high-efficiency copper-tube boilers, and water systems tanks. In 2004, the Company had net sales of approximately $1.7 billion, with 52% attributable to its electrical products business and 48% attributable to its water systems business.

Top Executives

Executive Name	Title
Mapes, Christopher	EVP; President - A. O. Smith Electrical Products Company
Massa, Ronald	Executive Vice President
Rajendra, Ajita	Executive Vice President; President - A. O. Smith Water Products Company
Stern, James	(Designee)Executive Vice President, General Counsel, And Secretary

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Recent Company Events

Date	Type of Event	Details
2008-01-23	Earnings/Dividends	A. O. Smith Corporation today announced record 2007 net earnings of $88.2 million or $2.85 per share on record sales of $2.3 billion. Net earnings increased 15 percent compared with $76.5 million or $2.47 per share in 2006. Earnings included after tax restructuring and other charges of $10.1 million or $.33 per share in 2007 and $6.5 million or $.21 per share in 2006. Sales increased seven percent over the prior year due to higher sales in China, increased sales of commercial water heaters, and a full year of the GSW business acquired in April 2006, which added $128 million in sales in the first quarter of 2007. In the fourth quarter of 2007, the company reported net earnings of $17.0 million or $.55 per share compared with earnings of $18.9 million or $.61 per share in the fourth quarter of 2006. Earnings included after tax restructuring and other charges of $8.2 million or $.26 per share in the fourth quarter of 2007 compared with $2.8 million or $.09 per share in the fourth quarter of 2006. Fourth quarter sales of $570 million increased five percent over the prior year. An 11 percent increase at Water Products from higher sales in China and strong commercial water heater sales more than offset a five percent decline at Electrical Products. "Our operating units performed well in 2007 given the difficult conditions in the housing market," Paul W. Jones, chairman and chief executive officer, commented. "In spite of those difficulties, we generated record sales and earnings and, as a result of a strong focus on working capital, operating cash flow of $191 million. After investing $71 million of capital in the business, we used the remaining cash flow to repay $61 million in debt, repurchase one million shares of our common stock for $37 million and pay $22 million in dividends to our shareholders," said Jones. "We also had another strong year of growth in China contributing to an operating margin of 10.5 percent in our Water Products business, and we continued our margin enhancement initiative in our motors business with the 2008 plant repositioning actions announced at the end of the third quarter," Jones continued. "We remain concerned, however, with the outlook for 2008. We expect earnings to range between $2.70 and $2.90 per share, which includes approximately $.25 per share in previously announced restructuring expense for the motors business. We believe the soft housing market will continue throughout the year and may be accompanied by a slow down in the commercial construction market. In addition, stubbornly high prices for steel and copper continue to pressure our businesses. All of these factors, including the restructuring in our motors business, will make 2008 a challenging year for A. O. Smith," Jones concluded. Water Products Water Products achieved record 2007 sales of $1.42 billion, 13 percent higher than 2006 sales of $1.26 billion. The company benefited from a full year of sales from GSW, acquired in April of 2006, increased sales of commercial water heaters, and a 26 percent increase in sales in China to approximately $150 million. Record operating profit of $150.0 million represented a 23 percent increase over 2006. The full year of sales from the GSW acquisition, sales of higher margin products, and growth in China more than offset lower residential water heater volume. Operating profit margin increased to 10.5 percent in 2007 from 9.7 percent last year. Fourth quarter sales of $379.0 million increased nearly 11 percent compared with the fourth quarter of 2006 due to strong sales of commercial and residential wholesale product and sales growth of approximately 40 percent in China. Sales in the North American market benefited from a pre buy related to a January 2008 price increase. As a result of the strong sales volume, operating profit increased 33 percent to $45.1 million compared with the fourth quarter of 2006. The operating profit margin increased t
2007-12-14	IPO's/Offerings	A. O. Smith Corporation today announced that its Board of Directors has extended its stock repurchase program. The new authorization allows for the repurchase of an additional one million shares of the company's common stock from time to time in open market transactions. "We recently completed the February 2007 share repurchase authorization for one million shares and we continue to feel that our stock is undervalued in the marketplace," Chairman and Chief Executive Officer Paul W. Jones commented. "We believe A. O. Smith is a great investment, and the extension of this program will allow us to enhance shareholder value by opportunistically acquiring the stock when we believe the value warrants it," Jones continued. During the last three years, A. O. Smith has generated nearly $500 million in operating cash flow and has used that cash to enhance shareholder value by making acquisitions, paying down its debt and expanding its operation in China while also repurchasing its shares and increasing its dividend. A. O. Smith Corporation, with 2006 sales of $2.2 billion, is a global leader applying innovative technology and energy efficient solutions to products marketed worldwide. The company is one of the world's leading manufacturers of residential and commercial water heating equipment, offering a comprehensive line featuring the best known brands in North America and China. A. O. Smith is also one of the largest manufacturers of hermetic and fractional horsepower motors for residential and commercial applications in North America. s.server=server() s.channel="news release" s.pageName="news_release_a. o. smith extends stock repurchase program" s.prop2="109" s.prop3="12 14 2007" /*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code); //
2007-12-14	Company Financing	A. O. Smith Corporation today announced that its Board of Directors has extended its stock repurchase program. The new authorization allows for the repurchase of an additional one million shares of the company's common stock from time to time in open market transactions. "We recently completed the February 2007 share repurchase authorization for one million shares and we continue to feel that our stock is undervalued in the marketplace," Chairman and Chief Executive Officer Paul W. Jones commented. "We believe A. O. Smith is a great investment, and the extension of this program will allow us to enhance shareholder value by opportunistically acquiring the stock when we believe the value warrants it," Jones continued. During the last three years, A. O. Smith has generated nearly $500 million in operating cash flow and has used that cash to enhance shareholder value by making acquisitions, paying down its debt and expanding its operation in China while also repurchasing its shares and increasing its dividend. A. O. Smith Corporation, with 2006 sales of $2.2 billion, is a global leader applying innovative technology and energy efficient solutions to products marketed worldwide. The company is one of the world's leading manufacturers of residential and commercial water heating equipment, offering a comprehensive line featuring the best known brands in North America and China. A. O. Smith is also one of the largest manufacturers of hermetic and fractional horsepower motors for residential and commercial applications in North America. s.server=server() s.channel="news release" s.pageName="news_release_a. o. smith extends stock repurchase program" s.prop2="109" s.prop3="12 14 2007" /*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code); //

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