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Uni-Select Reports First-Quarter Results

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BOUCHERVILLE, Quebec – Uni-Select Inc. reported that it generated sales of $450.7 million in the first quarter of 2012, compared to $396.8 million in the same period of 2011.

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Net earnings increased to $11.2 million in the first quarter of 2012 or 52 cents per share compared to $9.7 million dollars or 45 cents per share for the same quarter last year.

Uni-Select said the increase in total sales stems primarily from the addition of FinishMaster’s operations and the acquisition of store operations in Florida in the fourth quarter of 2011 combined with organic growth of 4.2 percent. The Canadian operations, with sales amounting to $115.7 million, recorded organic sales growth of 1.5 percent during the first quarter. The American operations recorded organic sales growth of 5.2 percent to reach $335 million.

“This quarter, we posted improved results in terms of sales, EBITDA and net earnings. The addition of FinishMaster and the acquired Florida assets teamed with a satisfactory increase in organic sales positively contributed to our growth,” said Richard Roy, president and CEO of Uni-Select.

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