NEW YORK, Jan 19 (Reuters) - CSK Auto Corp., the parent company of auto parts retailer CSK Auto Inc., on Monday raised its outlook for fiscal 2004 after debt refinancing.
As a result of the refinancing, the Phoenix, Arizona-based company said a pre-tax savings of $12 million to $14 million in annual interest expense would increase its fiscal 2004 net income estimate to a range of $65 million to $69 million from a range of $58 million to $61 million.
This would result in an increase in diluted earnings per common share of 16 cents to 18 cents, assuming about 47 million diluted shares outstanding, the company said.