Diamond Triumph Auto Glass: small rise in 1Q 2005 net sales

Auto glass replacement and repair services provider Diamond Triumph Auto Glass, Inc. posted net sales for the 1Q 2005 ended 31 March up USD 0.1 million, or 0.3%, to USD 53.5 million, versus USD 53.4 m…

Auto glass replacement and repair services provider Diamond Triumph Auto Glass, Inc. posted net sales for the 1Q 2005 ended 31 March up USD 0.1 million, or 0.3%, to USD 53.5 million, versus USD 53.4 million for the 1Q 2004. Net income for the 1Q 2005 increased by USD 0.9 million to USD 0.8 million from a net loss of USD 0.1 million for the corresponding quarter in 2004. EBITDA for the 1Q 2005 rose USD 1.1 million to USD 3.4 million from USD 2.3 million a year before. Diamond Triumph Chief Executive Office Norm Harris said “Despite relatively flat sales versus 2004, the company was able to increase earnings by leveraging costs throughout the organization. Based on the uncertainty surrounding pricing within our industry, we must continue to explore further opportunities to become more efficient in all facets of our business.” Michael Sumsky, Diamond Triumph“s President and Chief Financial Officer added, “In light of our sales performance, we are pleased that we were able to maintain positive cash flow during the 1Q. Our challenge is to broaden our revenue base to generate additional cash flow to allow us to de- lever the company.”