Financial Symposium to Discuss Business Valuations and Shareholder Liquidity
Gaining insight on how to make business more valuable as it relates to the aftermarket industry is just one of four scheduled “breakout sessions” on Sept. 7, at the Aftermarket Financial Symposium: Leveraging for Growth in Chicago, IL.
Thexton Anti-Freeze and Battery Testers Named ‘Tools of the Month’
Thexton’s Cold-Chek and Charg-Chek Anti-Freeze and Battery Testers were the first accurate and inexpensive specific gravity testers when they were introduced in 1964. Now, more than forty years later, they are Thexton’s latest ‘Tools of the Month.’
Genuine Parts Company Reports Record Sales and Earnings for Second Quarter and First Half of 2005
Genuine Parts Company reported record sales and earnings for the second quarter and six months ended June 30, 2005. Tom Gallagher, chairman, president and chief executive officer, announced that sales totaling $2.5 billion were up 8 percent compared to the second quarter of 2004. Net income was $111.0 million, an increase of 10 percent, compared to $101.1 million for the second quarter of 2004. On a per share diluted basis, net income was 63 cents, up 9 percent compared to 58 cents for the second quarter last year.
AAIA Board and Executive Committee Nominations Sought
The AAIA Nominating Committee will be meeting at the Board and Committee Meetings in Reston, VA, on Sept. 15, to review qualified candidates who have submitted a request to be considered to serve on the association’s Board of Directors and Executive Committee.
Fall ASE Certification Testing Schedule Announced
The National Institute for Automotive Service Excellence (ASE) will offer its full complement of 40-plus certification tests for repair professionals and parts specialists this fall over the course of three evenings on Nov. 10, 15 and 17. The tests will be given at more than 750 locations throughout the United States and Canada. The registration deadline is Sept. 30.
Japan’s Autobacs Seven to Invest $400 Million to Expand Network
Autobacs Seven Co. Ltd, a major Japanese automotive supply chain, will invest approximately $400 million over four years to reorganize and expand its domestic network, the Nihon Keizai Shimbun reported, without citing sources. By March 2009, Autobacs Seven plans to have 630 sales sites, up 20 percent from 516 as of last March, the business daily said.
AAIA Headquarters Moves to New Address
The Automotive Aftermarket Industry Association (AAIA) announced this week it is in the final stage of its headquarters relocation.
CSK Auto Reports Fourth Quarter and Fiscal 2004 Results
CSK Auto Corp. today reported its financial results for the fourth quarter and fiscal year, which ended on Jan. 30. Net sales for the fourth quarter of 2004 were $369.9 million as compared to $372.3 million for the fourth quarter of 2003. Net sales for the fiscal year were $1,577.5 million as compared to $1,578.1 million for the 2004 fiscal year. Same store sales decreased 1.9 percent for the fourth quarter and decreased 0.7 percent for the fiscal year. Retail same stores sales decreased by 3 percent for the fourth quarter and decreased by 1.2 percent for the full year, and commercial same store sales increased by 4.3 percent for the fourth quarter and 1.8 percent full year.
Cooper Releases 2004 Financial Results
Cooper Tire & Rubber Co. had a pretty good 2004, posting net sales of $2.1 billion and a net profit of $27 million from continuing operations.
Carlson Quality Brake Parts Releases New Catalog
Carlson Quality Brake Parts has released its new C-101 Brake Parts Catalog, replacing the previous catalog issued in 2003. The catalog features 325 new part numbers and a comprehensive selection of brake hardware parts and repair kits.