Earl Scheib Posts Disappointing Earnings

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Earl Scheib Inc. reported second quarter net income of $100,000 (2 cents per share), a 68 percent drop from $315,000 (7 cents) for the same period a year earlier.


Revenue for the Sherman Oaks-based paint and auto body repair shop operator was $12 million, a 5.4 percent drop attributed to decreasing volume. The company said higher gasoline prices were causing customers to put off other work on their vehicles.


Shares in Earl Scheib closed down 10 cents to $3.40.

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