Keystone’s Sales, Profits Up

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Keystone Automotive Industries Inc. continued its comeback with increased sales and profits for its first quarter of the year.


The Pomona-based aftermarket car parts maker reported first-quarter net income of $6.1 million (37 cents per share), up 30 percent over $4.7 million (30 cents) for the same period last year. Revenue for Keystone rose 16 percent to $167.7 million.


Keystone, which is the nation’s largest aftermarket parts supplier, continues to benefit from last year’s reversal of an Illinois court award. The overturned ruling had prevented insurance companies, who pay for 85 percent of auto repairs, from using generic auto parts for repairs and Keystone posted a $22 million loss in 2002 in its wake. Since that reversal last August, however, Keystone’s stock has increased more than 50 percent and profits have more than doubled.

The company said results were helped by sales of generic auto body parts like fenders, hoods and headlights, which rose 20 percent.

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