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FinishMaster reports flat profit in fourth quarter

March 8, 2010

FinishMaster Inc. on Monday reported that fourth-quarter profit was unchanged from a year earlier.

The Indianapolis-based distributor of automotive paint earned $1.6 million, or 21 cents per share, in the period ended Dec. 31. Revenue fell 10.3 percent, from $108.1 million to $97 million.

For the year, profit slid to $10.9 million, or $1.39 per share, from $18 million, or $2.29 per share, in 2008.

Revenue also fell, to $421.3 million in 2009 from $486 million the previous year.

The company attributed the decline to lower automobile-accident claims.
 

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