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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.

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