CSK Auto Corp. Reports Fourth Quarter and Fiscal 2003 Results - aftermarketNews

CSK Auto Corp. Reports Fourth Quarter and Fiscal 2003 Results

CSK Auto Corp., parent company of CSK Auto Inc., has reported its financial results for the fourth quarter and fiscal year ended Feb. 1.

PHOENIX — CSK Auto Corp., parent company of CSK Auto Inc., has reported its financial results for the fourth quarter and fiscal year ended Feb. 1.

The company noted the following highlights for the fourth quarter and fiscal year:

Net sales were $372.3 million for the quarter and a record $1,578.1 million for the full year;

Same store sales increased by 8 percent for the fourth quarter and 6 percent for the full year;

During the fourth quarter of fiscal 2003, the company refinanced its debt, which is expected to provide additional pre-tax annual interest savings of between $11 million and $13 million or $0.14 to $0.17 per share; and

Adjusted free cash flow (a non-GAAP measure described below) for fiscal 2003 was $73.7 million.

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