Acquisitions help FinishMaster maintain profit

November 12, 2008

FinishMaster Inc. turned a $4.8 million profit in the third quarter, nearly identical to its net income of a year earlier, due to three acquisitions.

Sales increased 4.1 percent to $123 million, the Indianapolis-based automotive paint distributor said yesterday. Without the acquisitions, sales would have been flat.

FinishMaster shares closed at $18.85 yesterday, down from a peak of $34.98 in December last year.

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