HUNTERSVILLE, N.C. (May 21, 2009) — American Tire Distributors Holdings Inc. (ATD) reported a first quarter net loss of $3.25 million, as higher operating expenses related primarily to the company's December 2008 acquisition of Am-Pac Tire Distributors Inc. offset 5.3-percent higher sales.
The higher sales of $538.3 million resulted primarily from the additional Am-Pac business and higher selling prices, ATD said in its 10-Q filing with the Securities and Exchange Commission. Disregarding the Am-Pac business, sales of tires, wheels and tire-servicing equipment all fell in the quarter to partially offset the gains.
Despite the reduced sales volume, ATD said it continued to outperform the rest of the U.S. passenger and light truck tire market, as defined and measured by the Rubber Manufacturers Association.
The Huntersville-based firm's operating income for the quarter ended April 4 fell 58 percent to $7.9 million on the effects of the higher operating expenses. Gross profit, however, was up 4.4 percent.