> SUBSCRIBE FOR FREE! 

Coast Distribution System Inc., which serves the RV and pleasure boat accessories aftermarkets, reports its second quarter net earnings nearly tripled last year’s results.
The American Stock Exchange-listed company earned $1.6 million during the three months ended June 30, compared with $609,000 earned during the April-through-June portion of 2002.
Coast’s second quarter sales revenue increased 6% to $47.5 million, compared with $44.9 million a year earlier.
During the first half of this year, Coast posted a net profit of $2.5 million, which compares with a net loss of almost $5 million during the fist half of 2002.
However, Coast took a $6.3 million non-cash charge against its first quarter 2002 earnings to reflect goodwill impairment. Without the non-cash charge, Coast would have reported net earnings of $1.3 million for the first half of 2002.
But even without the non-cash charge, Coast’s net earnings of $2.5 million during the fist half of this year represents an 85% increase over the $1.3 million it would have reported during the first half of last year without the non-cash charge.
Meanwhile, Coast’s sales revenue during the fist half of this year increased 6% to $88.2 million, compared with $83.1 million a year earlier.
Coast distributes a variety of aftermarket accessories to 1,500 RV and boat dealers throughout the U.S. and Canada.