Aftermarket supplier sees 3Q improvement
Aftermarket Technology Corp., (ATC) an aftermarket parts and logistics provider based in Westmont, IL, said it remains on track to achieve higher revenues and earnings for the third quarter and all of 2001 as well. ATC specializes in drivetrain remanufacturing, third-party logistics and material-recovery services. It also remanufactures instrument and display clusters and radios.
ATC said demand for the company’s remanufactured transmissions and for automotive logistics support have boosted its earnings confidence. ATC expects to achieve $0.39 earnings per share before special charges for the third quarter and $1.50 earnings per share for 2001. For the year, ATC said those numbers represent earnings growth of 39% as compared to last year and it predicts it will grow earnings per share another 15% in 2002.
ATC also said it was awarded incremental logistics business from Ford Motor Co., for which it will help control and manage inventory supporting all of the OEM’s remanufactured products.