LOS ANGELES — Cash Technologies Inc. is reporting steady growth for its subsidiary, CPI Holdings, which does business as Champion Parts. The company reported gross revenues of $306,188 in March, generating a gross profit of $106,105 and EBITDA of $15,492. Net loss before amortization was $(18,864).
"After the seasonally slow winter months, business has rebounded steadily," said Jerry Bragiel, president of CPI Holdings. "We expect growth to continue through the spring from both our legacy products and the recent addition of air conditioning compressors to our product line. We are also making progress on our turbocharger manufacturing line, expected to be in production by year’s end.
Bragiel noted that strong performance in the auto parts market as compared to other segments of the industry has been reflected in larger purchase orders.
“The turbocharger market continues to present a very exciting opportunity as we gear up for production of the most popular models,” Bragiel said. “Tens of millions of vehicles including many new car designs and virtually all diesel cars and trucks use turbochargers to increase fuel efficiency reduce toxic emissions and increase power.
“Our plan is to produce drop-in replacements for original manufacturer (OEM) turbos at a substantially lower price than current dealer prices and with higher performance characteristics than the original devices. With access to more than 10,000 retail stores through our existing customer base, we believe the turbo business will greatly outpace our other business lines in the future,” Bragiel said.
