Auto Industry and Manufacturing & Technology

FinishMaster profit, sales decline as accident claims fall

November 5, 2009

FinishMaster Inc. on Thursday afternoon reported a drop in third-quarter profit and revenue compared to the same period a year ago.

The Indianapolis-based paint distributor earned nearly $3 million, or 38 cents per share, in the quarter ended Sept. 30. That’s down from nearly $4.8 million, or 60 cents per share, in last year’s third quarter.

Revenue fell 14.6 percent, from $123 million in last year’s third quarter to $105 million in this year’s.

The company said a decline in automobile-accident claims had a negative impact on business.

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