Keystone Shares Gain on Strong Quarter

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Keystone Automotive Industries Inc. reported record earnings and sales for its fiscal third quarter sending shares up more than 6 percent.

Keystone reported third quarter net income $9.4 million (57 cents per share) a 32 percent leap over $7.1 million (44 cents) for the same period a year earlier.

Sales for the Pomona-based aftermarket auto parts maker were up 13 percent to $185 million. Same store sales growth for the third quarter was 11.4 percent.

The company cited strong demand for its generic replacement parts and strategies that have improved parts availability across the company’s distribution network.

“The company’s strategic focus on parts availability throughout the network continues to be an important catalyst to our success,” said Chief Executive Richard Keister in a statement.

Shares in Keystone were up $2.09 to $33.82 in midday trading Tuesday.

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