BOUCHERVILLE, Quebec --
Auto parts distributor Uni-Select Inc., boosted by its acquisition last year of Middle Atlantic Warehouse Distributors Inc. (MAWDI), increased its first quarter profit by 30 percent, compared with a year ago.
According to a report from Canadian Press (CP), the Quebec-based firm said Tuesday it earned $5.4 million or 28 cents per share for the three months ended March 31. That compared with a profit of $4.1 million or 22 cents per share in the same period a year earlier. Sales increased to $265.5 million from $175.8 million.
The company's U.S. automotive group's sales more than tripled to $135.2 million, compared with $38.4 million during the first quarter of 2004, again due to the acquisition of MAWDI in November.
Uni-Select's Canadian automotive group saw sales fall to reach $115.1 million, from $121.8 million a year ago, hurt by fewer business days in the quarter compared to the previous year and the transfer of some of its business to the firm's heavy-duty group, CP's report said.
Quarterly sales for the heavy-duty group slipped to $15.2 million, compared with $15.6 million in 2004.
_______________________________________
Click here to view the rest of today's headlines.