EVANSVILLE, IN — United Components Inc. (UCI) announced revenue of $256.8 million for the quarter, which ended on March 31. Revenue increased 8.7 percent over the year-ago quarter. Net income for the quarter was $7.5 million. For the first quarter of 2003, net income was $22.3 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) as adjusted pursuant to the company’s credit agreement for its senior credit facilities, was $34.1 million for the first quarter, compared with $31.5 million for the year-ago quarter.
As previously reported, on March 1 the company voluntarily prepaid $40 million of borrowings under its senior credit facilities. Cash flow generated from operations was used to repay this debt. Since UCI’s acquisition of the company on June 20, 2003, debt repayments have totaled $98 million.
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