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The Coast Distribution System Inc., a leading supplier of recreational vehicle accessories based in Morgan Hill, Calif., today (Aug. 9) reported increased sales and earnings for the second quarter and six months ended June 30, 2004.
Net sales for the quarter increased 9.7% to $52.1 million from $47.5 million during the same period last year. Net earnings increased 63% to $2.6 million for the quarter as compared to $1.6 million for the same period in 2003.
In the six months ended June 30, net sales grew 14% to $100.8 million as compared to $88.2 million in 2003. Net earnings for the six months increased 67% to $4.1 million versus $2.45 million last year.
“We are pleased with our sales growth and with the substantial increase in our earnings so far in 2004,” stated Thomas R. McGuire, Chairman and CEO of Coast. “We believe that our continued focus on superior customer service and opportunistic expansion of our product lines has enabled us to increase our net earnings during the first six months of this year after doubling our earnings in the year ended December 31, 2003. “