Watts Water posts quarterly gain
Watts makes pipes, flow control devices, and other products.

Watts Water Technologies posted a 40 percent increase in adjusted fourth-quarter earnings. The North Andover company - which makes products that control the efficiency, safety, and quality of water in residential and commercial uses - earned $17.1 million, or 56 cents per share, after adjusting for some items. In the same period last year, Watts reported earnings of $11.4 million or 40 cents per share. The company also posted a 14 percent increase in fourth-quarter sales, citing acquisitions and organic growth for the increase.