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Champion parts income fall 47.5% in 2Q.

Champion Parts Inc., the auto parts remanufacturer based at Hope, posted net income for the second quarter of $322,000, or 9 cents a share, compared to $613,000, or 17 cents a share for the same period in 2003, a decline of 47.5 percent.

Net sales were down 26 percent to $5.1 million, compared with $6.9 million in 2003.

Jerry A. Bragiel, president and chief executive officer, attributed the lower sales to a decline of carburetor net sales and a soft market for air conditioning products, due to mild temperatures and excessive rainfall particularly in the Sunbelt. The company also reported slightly higher interest expense during the period resulting from an extension of its expired credit facility.
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Title Annotation:Public Company Reports
Comment:Champion parts income fall 47.5% in 2Q.(Public Company Reports)
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 23, 2004
Words:121
Previous Article:Dillard's reports 2Q net loss of $26 million.
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