EVANSVILLE, IN -- United Components, Inc. (UCI) has announced results for the quarter ended March 31. Revenue of $238.8 million increased $24.3 million over the year-ago quarter, including $24.3 million in sales by water pump manufacturer ASC Industries, which was acquired by UCI during the second quarter of 2006. On a comparable basis (excluding ASC sales in 2007 and the non-recurring effects of obtaining new customer business in both years), revenue increased by approximately 5 percent from the year-ago quarter. On this basis, the company reported revenue increases in the retail and heavy duty channels and declines in the OEM, traditional and original equipment service channels.

Net income from continuing operations for the quarter was $4.5 million, compared to $3.4 million for the first quarter of 2006. Both periods included special items. The 2007 quarter included $0.6 million in special income, net of tax, consisting of a gain from the sale of a facility, partially offset by costs related to the acquisition of ASC. The 2006 quarter included $0.9 million in special charges, net of tax, relating to costs of closing facilities and consolidating operations. Excluding these special items, adjusted net income from continuing operations would have been $3.9 million and $4.3 million for the first quarter of 2007 and the first quarter of 2006, respectively.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, for UCI's continuing operations, as adjusted consistent with the company's historical presentations, was $34.2 million for the first quarter, compared with $25.5 million for the year-ago quarter.

"We are pleased to report that our positive momentum at the end of 2006 carried us to a strong start for 2007," said Bruce Zorich, chief executive officer of UCI. "With the overall marketplace continuing to be difficult, and particularly with energy prices once again reaching near-record levels, we performed extremely well, achieving growth in revenue and EBITDA and continuing to generate significant cash flow."

"Our new business development efforts, both in North America and internationally, allowed us to overcome these market challenges and see first quarter revenue improvement," continued Zorich. "In addition, our initiatives in facilities consolidation, procurement and overall operational excellence are meeting or exceeding our expectations."

As of March 31, the company's debt stood at $461.5 million, after repayments during the quarter of $40 million of its senior credit facility borrowings, primarily with cash flow from operations. The company ended the quarter with $12.8 million in cash.

For more information about UCI, go to: http://www.ucinc.com.