BOUCHERVILLE, QUEBEC Uni-Select Inc. says it generated sales of $436.7 million in the fourth quarter of 2011, compared to $305.4 million in the same period of 2010. Net earnings increased to $11.7 million in the fourth quarter of 2011, or 54 cents per share, compared to $10.2 million, or 52 cents per share, for the same quarter of the previous year.
The adjusted EBITDA margin was 5.2 percent in the fourth quarter of 2011, an increase of 0.2 percent compared to the same quarter in 2010. Uni-Select reports that this increase is mainly the result of improvements in the terms and conditions extended by suppliers of products partially offset by pressures on margins resulting from an unfavorable variation in the mix of customers.
“We are proud to record improved sales and net earnings for the eighth quarter in a row,” said Richard Roy, president and CEO of Uni-Select. “Growth has come from an increase in organic sales and a contribution of recently acquired businesses. FinishMaster largely contributed to the improvement of our quarterly results. The integration plan of FinishMaster, including store consolidation, evolves as planned. We remain confident that the target of $10 million in annual synergies within two years is attainable.”