Finish Master profit hurt by economy

August 19, 2008

One-time events caused Finish Master Inc. profit to rise to $5.3 million in the second quarter from $4.6 million a year earlier, the Indianapolis company reported yesterday.

However, the improvement was driven by proceeds from a lawsuit settlement and a non-recurring charge from the second quarter of 2007.

Not taking those one-time changes into consideration, Finish Master profit declined 4 cents per share, to $1.08 per share.

Demand for the auto paint and accessories the company distributes has weakened due to the slow economy, and drivers spending less time on the road, Finish Master said.

Source: XMLFULL/XMLFull18836.xml

Recent Articles by IBJ Staff

Comments powered by Disqus