Collision Repair Sales Increase 5 Percent in 2003, According to AAIA
Collision repair industry sales increased 5 percent to $34 billion last year with independent body shops experiencing the largest boost, according to the “2004 Collision Repair Trends: Industry Statistics & Analysis,” a new market research report published by the Automotive Aftermarket Industry Association (AAIA).
New Seminar Announced for AAPEX
The Automotive Aftermarket Products Expo (AAPEX) has identified a fourth seminar as part of the Sunrise Seminar Series, called “The Potential of RFID for the Automotive Aftermarket: Risks and Rewards.” The seminar speaker will be Marc Linster, Ph.D., chief technology officer of Avicon Group. The presentation will review how RFID standards driven by EPCGlobal, leading retailers and the Department of Defense can be brought to bear in the automotive aftermarket supply chain.
Soy-Based Products Show Potential Under The Hood
As soy biodiesel continues to gain acceptance at the pump, soy-based lubricants are also fueling the automotive industry. Engine oil and hydraulic power steering fluid are two soy-based products showing potential “under the hood.”
Executive Interview with Scott Meyer, President of MEMA
Our latest edition of “Executive Interview” features Scott Meyer, outgoing chairman of the Motor and Equipment Manufacturers Association (MEMA). As he concludes his time as chairman of the association, he steps into a new role as interim president of MEMA, which is in the midst of celebrating its 100-year anniversary. Join us as Meyer shares his insights on the anniversary of MEMA’s centennial, and what lies ahead for both MEMA and the entire industry.
Uni-Select Inc. Net Profits Increased by 20.8 Percent in the First Quarter of 2004
Uni-Select Inc. recorded an increase in net profits of 20.8 percent this year to attain U.S. $4.14 million or $0.23 per share compared to $3.43 million or $0.19 per share for the corresponding period a last year. Sales improved to $175.8 million in the first quarter of 2004, an increase of 6.2 percent versus sales of $165.6 million in the first quarter of 2003.
Goodyear to Report 2003 4Q Results on May 19
The Goodyear Tire & Rubber Co. said it would report fourth quarter 2003 financial results, plus details of its restatement of financial results for the years 1999-2003 on Wednesday, May 19. The report will be followed by an investor conference call at 9 a.m. Robert Keegan, chairman and CEO, and Robert Tieken, executive vice president and CFO, will participate in the conference call. They will also provide an outlook for the first quarter of 2004.
Experts Warn Industry’s Growth in South Carolina Will Be Flat at Best
South Carolina is chasing automotive manufacturing jobs even as the industry’s work force is slipping away from the U.S. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains.
Universal Technical Institute Discusses Long-Term Strategic Plan in Investor Meetings
Universal Technical Institute’s (UTI) Chairman Robert Hartman, President and CEO Kimberly McWaters and CFO Jennifer Haslip are conducting meetings with investors this week to highlight the company’s growth plan and business outlook.
ArvinMeritor Reports Fiscal Year 2004 First-Quarter Results
ArvinMeritor reported sales of $2.2 billion and net income of $19 million, or $0.28 per diluted share, for its first fiscal quarter, which ended Dec. 31, 2003. This is compared to the prior year’s first-quarter net income of $32 million, or $0.47 per diluted share. Results for the first quarter of 2004 include a net charge of $0.09 per diluted share as a result of the company’s decision to withdraw its tender offer to acquire all of the outstanding shares of Dana Corp. This charge includes $16 million of pre-tax costs, partially offset by a pre-tax gain of $7 million on the sale of Dana stock owned by the company.
International Speedway Reports Fourth Quarter And Year-End Results
International Speedway Corp. (ISC) has reported results for the fourth quarter and year, which ended on Nov. 30, 2003. Total revenue for the 2003 fourth quarter was $164.7 million, compared to $171.7 million in 2002. Operating income for the fourth quarter was $56.5 million compared to $65.3 million for the prior year. Net income was $31.6 million, or $0.60 per diluted share, compared to $37 million, or $0.70 per diluted share, in the fourth quarter of 2002.