LKQ Corp. Announces First Quarter 2004 Results
LKQ Corp. has reported results for its first quarter, which ended on March 31. The company reported revenues of $100.1 million and net income of $5.6 million, representing growth over the first quarter of 2003 of 26.3 percent and 43 percent, respectively.
Radiator.com’s Marketing Drives Sales
A California company has found gold under the hood of America’s older vehicles – with a little help from Visteon Corp. In a little more than a decade, Radiator.com/1-800-Radiator has grown from a $2.5 million local business into a $60 million company with 34 locations nationwide.
Visteon has 1st profit since ’02
Auto-parts maker Visteon Corp. said Thursday that it turned a quarterly profit for the first time since mid-2002 and surpassed earnings expectations, largely due to new business from the automakers and lower health-care costs for employees. The Dearborn, Mich.-based supplier reported first-quarter net income of $30 million, or 23 cents a share, compared with a loss of $15 million, or 12 cents a share, in the same quarter a year ago.
CARQUEST’s Pete Kornafel Talks About His New Book on Inventory Management
Pete Kornafel, vice chairman of CARQUEST, recently wrote and published “Inventory Management and Purchasing — Tales and Techniques from the Automotive Aftermarket,” a practical guide to inventory management for wholesale distributors and stores that supply “hard goods.” Kornafel took some time last week to speak with aftermarketNews.com about the inspiration for his new book.
NASCAR and Advance: A ‘Win-Win Situation’
There’s a trite phrase used with companies that market with NASCAR, said Karl Barnhart, a managing director at CoreBrand, a New York branding firm. “You win on Sunday, and you sell on Monday,” he said.
DST Asks: What Topics Would You Like to Read About?
Right now, today, perhaps no other industry is as poised and ready to transform itself as the automotive aftermarket parts and service industry to leverage technology usage to dramatically enhance productivity and boost bottom-line performance. That’s why we took the opportunity, after publishing three months worth of weekly columns, to ask our readers what they would like us to discuss in the next three months. The responses were interesting and thought provoking. Here’s a general recap of what we’ve covered so far and, based upon your feedback, topics for the near future.
Executives’ Salaries Up at Advance
Several top executives at Advance Auto Parts made more in 2003 than the year before, but some bonuses dropped, according to a proxy statement filed with the Securities and Exchange Commission.Lawrence Castellani, CEO of the Roanoke, Va.-based automotive parts retailer, made $669,566 in 2003, a 5 percent increase from $635,778 in 2002. His bonus was $359,746 in 2003, a 44 percent drop from $642,191 in 2002.
MEMA Holds Second Annual Counterfeiting Seminar
MEMA presented its second annual seminar dedicated to the issue of counterfeiting of automotive and truck parts. The event, “Taking Action Against Automotive/Truck Parts Counterfeiting, Diversion and IPR Violations” was held on Monday, April 5 at the Hyatt Regency in Dearborn, Mich. Described by Automotive Aftermarket Suppliers Association (AASA) Vice President Paul Foley as a “major industry initiative,” the seminar was developed to educate the industry on the nuances of counterfeiting, share best practices, solicit media support and provide networking and exhibitor opportunities.
DST Asks: Have You Explored the Benefits of Formless Printing Technology?
Many firms throughout the supply chain have discovered the benefits and enormous payback of investing in formless printing technology (formless printing eliminates the requirement for costly preprinted forms, such as invoices). Have you explored the potential ROI benefits that formless printing could provide your business within months of implementation? Have you further explored the potential benefits of direct electronic communication of formed documents via e-mail or e-fax?
Compact Performance Sales Top $3 Billion in 2003
Sales of appearance accessories, handling and suspension parts and performance and racing products for compact performance vehicles topped $3 billion in 2003, according to SEMA, the Specialty Equipment Market Association.