Champion Parts' 1q profit up 49 percent.
Profit reached $239,000, or 7 cents a share, compared with $160,000, or 4 cents a share, during the same period in 2005. Net sales increased 5.6 percent to $6.1 million, compared with $5.8 million in 2005.
"We are especially pleased with the 49.4 percent increase in our first quarter profitability and also very gratified to see a 5.6 percent rise in our net sales, despite higher costs of products sold," said Jerry A. Bragiel, president and CEO. "It's a combination that's tough to beat, and we were also encouraged to see an early-season demand and increase in net sales for our air conditioning products and a higher than anticipated net sales of carburetor products."
Bragiel said he expects a "continued strong demand" for the company's air conditioning products as the weather warms.
Champion Parts remanufactures fuel system components, air conditioning compressors, front wheel drive assemblies, and other electrical and mechanical products for the passenger car and light truck, agricultural, heavy-duty truck, and marine parts aftermarket.
The company also said it is continuing its pursuit of new products and markets for existing products, which includes internal new product development as well as acquisition opportunities.
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|Title Annotation:||Public Company Reports|
|Date:||Jun 5, 2006|
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