United Components Reports Revenues of $218.1 Million for Third Quarter 2008 - aftermarketNews

United Components Reports Revenues of $218.1 Million for Third Quarter 2008

The company ended the quarter with $41.5 million in cash.

EVANSVILLE, Ind. — United Components Inc. (UCI) has announced results for the third quarter ended Sept. 30. UCI reported revenue of $218.1 million for the quarter, compared to $230.7 for the year-ago quarter. The company reported a revenue increase in the retail channel, and declines in the OEM, original equipment service, traditional and heavy duty channels.

Net income for the quarter was $4.4 million, including $2.8 million, net of tax, in special charges, consisting of costs related to defending class action litigation, establishing new facilities in China, reduction in force and obtaining new business. Excluding these charges, adjusted net income from continuing operations would have been $7.2 million for the quarter. Adjusted net income from continuing operations for the third quarter of 2007 was $9.7 million, excluding $1.3 million in special charges, net of tax.

Earnings before interest, taxes, depreciation and amortization as adjusted consistent with the company’s historical presentations, was $30.1 million for the third quarter, compared with $36 million for the year-ago quarter.

As of Sept. 30, the company’s debt stood at $440 million. The company ended the quarter with $41.5 million in cash.

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