Watts Industries Inc. met consensus earnings estimates of 26 cents per share for its second quarter. Net sales increased 3.3 percent to $135.56 million from $131.18 million for the comparable period one year ago. Net income decrease of 12.4 percent to $7.03 million for the quarter.

Watts Chairman and Chief Executive Officer, Timothy P. Horne, cited "soft conditions in the domestic plumbing markets" as the reason the company's sales were effected.