EVANSVILLE, Ind. -- United Components Inc. (UCI), a leading manufacturer of vehicle replacement parts, has announced results for the third quarter ended Sept. 30. UCI reported revenue of $228.9 million for the quarter, a 4.9 percent increase over the $218.1 million in revenue for the year-ago quarter. The company reported a revenue increase in the retail, traditional, original equipment service and OEM channels, and a decline in the heavy duty channel.

Net income attributable to UCI for the quarter was $13.1 million, including $0.9 million, net of tax, in special charges, consisting of costs related to restructuring of operations, defending class action litigation, reductions in force and obtaining new business. Excluding these charges, adjusted net income attributable to UCI would have been $14 million for the quarter. Adjusted net income attributable to UCI for the third quarter of 2008 was $7.2 million, excluding $2.8 million in special charges, net of tax.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, as adjusted consistent with the company’s historical presentations, was $38.4 million for the third quarter, compared with $30.1 million for the year-ago quarter.

“We’re very pleased to report improved results for the third quarter, from both a top line and an operational perspective,” said Bruce Zorich, chief executive officer of UCI. “After more than a year of being adversely affected by the worst economic climate in memory, the positive trends we have seen in recent months have resulted in a five percent increase in year-over-year sales. On the operational side, our ongoing cost-saving initiatives allowed us to post significant increases in gross margins and more than a 27 percent improvement in EBITDA.

“While we are still not through the difficult economic environment, the trends we are seeing for our business, such as a continuing increase in miles driven, are positive,” continued Zorich. “In addition, we are not letting up on our focus on operational excellence and cost-saving initiatives. We believe that this focus, plus the continuing positive trends and selected growth strategies, have us very well positioned to take advantage of the opportunities that we see in the coming quarters.”

As of Sept. 30, the company’s debt stood at $424.7 million. The company ended the quarter with $115.1 million in cash.