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Seaboard Automotive Inc. announces earnings, sales increase for 2nd quarter, filing for listing on NASDAQ Stock Market & opening of two new warehouses.

BLACKWOOD, N.J.--(AutomotiveWire)--Feb. 10, 1995--Seaboard Automotive Inc., Friday announced a 47% increase in net income for the quarter ended Dec. 31, 1994, to $39,000, or 1 cent per share, as compared with $27,000, or 1 cent per share for the quarter ended Dec. 31, 1993.

Sales for the quarter of $5.6 million represent an increase of approximately $300,000, or 6% from 1993's sales of $5.3 million. The increase in sales is a result of Seaboard's acquisition of jobber (retail) stores during the year. Gross profit increased to $1.8 million in fiscal 1994 from $1.4 million in fiscal 1993, which represents an increase of 28%.

On Jan. 30, 1995, Seaboard filed with the National Association of Securities Dealers Inc. the application for listing of Seaboard's common stock on the NASDAQ Small Cap Market.

Seaboard also announces the opening of its 8th satellite warehouse in Edison, N.J. in January. In addition, Seaboard will open its ninth satellite warehouse in Bath, Pa. in February.

Founded in 1972, Seaboard Automotive is a wholesaler and retailer of automotive aftermarket parts, tools, supplies, equipment and accessories to jobbers (retailers), professional mechanics, service technicians and to do-it-yourself customers.

With the acquisition of two stories and the opening of two new warehouses during fiscal 1995, Seaboard Automotive Inc. now operates eight stores and nine warehouses in New Jersey and Pennsylvania.

CONTACT: Seaboard Automotive Inc., Blackwood

Stephen Coulter or Peter Flanagan, 609/227-2252
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Publication:Business Wire
Date:Feb 10, 1995
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