Finish Master profit hurt by economy

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.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.