WESTMONT, Ill., July 25 (Reuters) - Aftermarket Technology Corp. , which remanufactures auto transmissions and distributes wireless phones, said Thursday earnings rose sharply due to new business and cost controls.
Second-quarter profit, excluding one-time items and goodwill amortization, rose 49 percent to $11.3 million, or 46 cents a share, in line with its prior forecast, and up from $7.6 million, or 36 cents, a year earlier.
Net income increased to $9.4 million, or 38 cents a share, from $5.9 million, or 28 cents.
Net sales rose to $100.7 million from $92.2 million a year ago.
The company forecast third-quarter earnings of 48 cents a share and affirmed prior full-year guidance of $1.90 a share.