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March 14, 2014 02:00 AM

ATD cuts fiscal loss in half

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    CHARLOTTE, N.C. (March 14, 2014) — American Tire Distributors Holdings Inc. recorded improved operating income for the year ended Dec. 28 on 11.1-percent higher sales and cut its net loss in half to $6.33 million.

    The improved earnings picture resulted primarily from sales increasing at a rate greather than expenses, ATD's financial statements show.

    Sales increased to $3.84 billion, driven primarily by the combined results of new distribution centers and acquisitions, ATD said. Offsetting these gains were lower net tire pricing of $92 million ($68.8 million related to passenger and light truck tires and $15.5 million related to medium truck tires) and a slight shift in product mix in lower price-point offerings, especially entry-level imported products.

    Operating income was up 21.7 percent to $69.2 million, as rising revenue stayed slightly ahead of rising costs.

    Among recent developments that will affect ATD's finances going forward are:

    • The acquisitions of Terry's Tire Town Holdings Inc., Hercules Tire Holdings Inc., Kipling Tire Co. Ltd. and Wholesale Tire Distributors Inc., with combined annual sales in excess of $1.1 billion. 
    • The full-year impact of distribution centers opened in 2013 in Chattanooga, Tenn.; Manchester, N.H.; Missouri City, Texas; Albany, N.Y. and West Palm Beach, Fla., and the contribution of any centers that open in 2014, ATD said.

     

     

    Related Articles
    ATD completes Hercules acquisition
    ATD to acquire Terry's Tire Town
    ATD: Terry's + Hercules = $1.1B sales
    ATD to close Terry's Tire Town HQ (Update)
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