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Uni-Select reports higher Q4 profit, sales, driven by acquisitions

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Car part distributor Uni-Select (TSE:UNS) reported Thursday higher fourth-quarter earnings and sales, driven by acquisitions and organic growth.

The auto parts distributor, founded in 1968, has 6,600 workers and its network expands to over 2,500 clients.

For the quarter that ended December 31, the company said total revenue surged to $436.7 million from $305.4 million a year ago.

Net income rose to $11.7 million, or 54 cents per share, compared with a year-earlier profit of $10.2 million, or 52 cents a share.

Uni-Select, which is headquartered in Boucherville, Quebec, said that revenue growth came from its FinishMaster’s operations and the acquisition of Parts Depot last quarter.

On a geographic basis, the company said its Canadian operations had sales of $123.5 million, and posted organic growth of 1.6 percent.

Its American operations recorded organic sales growth of 4.2 percent, to reach $313.2 million.

"We are proud to record improved sales and net earnings for the eighth quarter in a row. Growth has come from an increase in organic sales and a contribution of recently acquired businesses," said chief executive Richard Roy.

"FinishMaster largely contributed to the improvement of our quarterly results. We remain confident that the target of $10 million in annual synergies within two years is attainable.”

Uni-Select is a distributor of replacement parts, equipment, tools and accessories for motor vehicles in North America, operating in two divisions.

Shares of the company went up by 50 cents to $29 each in trade on the Toronto Stock Exchange on Thursday afternoon.

Quick facts: Uni-Select

Price: 6.58 CAD

TSX:UNS
Market: TSX
Market Cap: $278.91 m
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