EVANSVILLE, Ind. – United Components Inc. (UCI) has announced results for the quarter ended March 31. Revenue of $230.3 million increased $10.4 million over the year-ago quarter, an increase of 4.7 percent. Excluding the effects of obtaining new customer business in both quarters, revenue increased by 3.9 percent from the year-ago quarter. On this basis, the company reported revenue increases in the retail, OEM and heavy duty channels, while the traditional channel was flat and the OES channel (new car dealer service) decreased.

Net income attributable to UCI for the quarter was $12.3 million, including $3 million in special charges, net of tax, consisting of costs related to obtaining new business, restructuring costs and costs of defending class action and patent litigation. Excluding these charges, adjusted net income would have been $15.3 million. Net income attributable to UCI for the first quarter of 2009 was $4.5 million, excluding $2.9 million of special charges, net of tax, including costs related to obtaining new business, reduction in force, defending class action litigation, the establishment of new facilities in China and integration of water pump operations.

“The hard work we put in throughout 2009 continued to pay off in 2010, with another strong performance from both a revenue and an operational perspective,” said Bruce Zorich, CEO of UCI. “On the top line, we’re seeing the results of our category management partnership with our customers, along with an increase in demand for replacement parts across the business. And our key market indicators, such as miles driven and vehicle age, continue to show improvement.

“Along with the sales increase, our cost-reduction actions have resulted in a leaner overhead structure, contributing to another quarter of EBITDA improvement,” continued Zorich. “This new cost structure, combined with our commitment to operational excellence, has us very well-positioned to capitalize on the anticipated organic aftermarket growth, as well as recent new business wins and continuing partnerships with our customers in growing their businesses.”

As of March 31, the company’s debt stood at $424.7 million. The company ended the quarter with $165.8 million in cash, up from $131.9 million at Dec. 31, 2009.