Keystone Automotive Profit Surges 74%
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From the Associated Press
Keystone Automotive Industries Inc., a Pomona-based auto parts distributor, said its fourth-quarter profit jumped 74% as same-store sales increased and revenue outpaced the cost of sales.
Net income grew to $7.6 million, or 46 cents a share, from $4.3 million, or 27 cents, a year earlier.
Analysts surveyed by Thomson Financial expected earnings per share of 47 cents. Revenue grew 18% to $179.9 million from $152.5 million last year, as the cost of sales rose only 14% to $98 million.
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