It's earnings time. One of this week's most-read stories was regarding
second quarter 2010 results from Standard Motor Products. The company reported a rise in consolidated net sales and earnings from continuing operations. Consolidated net sales for the second quarter of 2010 were $231 million, compared to consolidated net sales of $197.5 million during the comparable quarter in 2009. The company's Board of Directors approved a quarterly dividend of 5 cents per share on the common stock outstanding. The dividend will be paid on Sep. 1, 2010 to stockholders of record on Aug. 13, 2010.
In other financial news,
O'Reilly Automotive announced record revenues and earnings for the second quarter. Sales for the second quarter ended June 30, 2010, totaled $1.38 billion, up 10 percent from $1.25 billion for the same period a year ago. Gross profit for the second quarter ended June 30, 2010, increased to $673 million (or 48.7 percent of sales) from $604 million (or 48.2 percent of sales) for the second quarter of 2009, representing an increase of 11 percent.
Among other top stories this week was news that
ShowMeTheFilters.com announced expanded coverage that now includes more than 5.4 million applications covering a range of parts and brands. The greatly expanded coverage is in the www.ShowMeTheFilters.com free online parts catalog, which offers complete coverage for the lube center market. ShowMeTheParts.com had 572,000 visitors last month.
The ShowMeTheParts.com online catalog provides access to more than 100 brands covering more than 1,500 product types.
U.S. Auto Parts announced that it has signed a definitive Stock Purchase Agreement to acquire Whitney Automotive Group for the purchase price of $27.5 million and assumption of approximately $11 million in trade-related and other payables. Whitney Automotive Group is expected to have $110 million to $120 million in revenues under U.S. Auto Parts ownership in 2010.
And lastly, the aftermarket lost two well-known faces of the industry.
Larry W. McCurdy, Chairman of the Board of Affinia Group Inc. since the company's inception in 2004, died at the age of 75.
John Noel Castle, longtime Dean of Aftermarket Studies of Northwood University until his retirement in 1992, passed away in Utah on July 28.
