Financial

  • CHICAGO — LKQ Corporation announced results for its first quarter ended March 31, 2008, with revenue of $491.9 million, net income of $30.9 million and diluted earnings per share of $0.22.
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  • Your approach to funding a major equipment purchase should come from an overall strategy aimed at financial health for your business.
  • CARSTAR, the largest franchisor of collision repair facilities with more than 380 shops in the United States and Canada, recapitalized May 29 through management and Champlain Capital Partners.
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  • PITTSBURGH — PPG Industries reported record sales for the second quarter of $4.5 billion, surpassing the prior year’s second quarter results by 42 percent. Second quarter reported net income was $250 million, or $1.51 per
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  • A Taiwan-based investor group sold PartsChannel Inc. to Prudential Capital Partners III, which will participate in its management. Terms were not disclosed.
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  • The economic downturn has led to some belt tightening in the collision industry. Operating costs have increased during the past five years, while business in some regions has declined.
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  • Moody's Investors Service affirmed the Ba3 Corporate Family Rating of Audatex Holdings LLC and changed the rating outlook to positive from stable, according to Reuters.
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  • As more collision shops feel the affects of the sluggish economy, owners have had to make difficult decisions about where to cut expenses. Many body shops, though, feel they’ve already shaved expenses down to the bone, and have struggled to fin
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  • The feud had been building for a long time. The large mail-order specialty parts retailers and some Internet sellers with little or no overhead were price-cutting name-brand merchandise. At first, it was only the big retailers buying at deep discount
  • Sonic Automotive Inc., an automotive retailer that operates 169 franchises and 34 collision repair centers, has extended the filing date of its 2008 annual report to March 31.
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  • CHICAGO — LKQ Corp. announced results for its first quarter ended March 31, 2009. Revenue for the first quarter of 2009 was $518.0 million, an increase of 5.3 percent from $491.9 million in the first quarter of 2008. Net income
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  • WASHINGTON, D.C. – President-elect Barack Obama has proposed a four-part stimulus plan to revitalize the U.S. economy. The four key sections of the plan include immediate action to create good jobs in America; immediate relief
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  • Almost every collision repair facility, automotive repair shop and even fast food store accepts credit cards theses days. While the average small business owner realizes he must accept credit cards to be competitive, what he doesn't always factor in
  • There's a simple rule in business that if you want to increase profits you need to either increase sales and revenue, or decrease costs and expenses. If you want to work on the expense side of that equation by reducing your costs of doing business, o
  • Falls Church, Va. — The Northern Virginia Transportation Authority (NVTA) found a way to unite the collision repair and insurance industries when it voted to activate a 5 percent tax on the labor of all auto repairs made in a large part of Nort
  • It's a common complaint among shops: Paint and materials have moved from once being a profit center in the shop to being at best a break-even line item or even a money-loser. Yet not all shops are finding this to be the case. Making money on material
  • A brand name and reputation are fragile things. Companies can spend dozens of years building them and lose them in the click of a mouse.
  • The I-CAR Education Foundation is once again offering "The Ultimate Collision Education Makeover" grant in 2010, which will award one school with a $50,000 grant to overhaul the school's collision repair program.
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  • Every year, our sister publication, Aftermarket Business, conducts a State of the Industry report based on the automotive aftermarket. Results of the most recent study appeared in the February 2007 issue. In the study, 1,701 respondents were
  • The National Auto Body Council (NABC) is now taking nominations for the 15th annual PRIDE Awards, which recognize those in the collision industry who selflessly donate their time, energy and financial resources to worthy causes outside the industry.
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