(Source: Datamonitor)

Advance Auto Parts, a retailer of automotive aftermarket parts and accessories, has reported a net income of $80.33 million, or $0.83 per diluted share, for the second quarter ended July 18, 2009, compared to $75.39 million, or $0.78 per diluted share, in the second quarter of fiscal 2008.
For the second quarter of 2009, total sales increased 7% to $1.32 billion, compared with $1.24 billion in the second quarter of fiscal 2008.
For the first six months ended July 18, 2009, net income was $173.91 million, or $1.82 per diluted share, compared to $157.47 million, or $1.64 per diluted share, in the same period of 2008. Net sales were $3.01 billion, compared to $2.76 billion in the same period of 2008.
Mike Norona, executive vice president and CFO of Advance Auto Parts, said: "We are pleased with our sixth consecutive quarter of double-digit commercial comparable sales growth, our second consecutive quarter of positive DIY comparable sales in over three years, as well as the strong gross profit rate improvement which fueled an increase in our operating income rate of over 50 basis-points before the impact of store divestitures. We are also pleased with the cash flow we generated and the fact that we continued to strengthen our balance sheet."
A service of YellowBrix, Inc.