Boyd Group Reports 14.8 Percent Increase in
Sales from 2009
March 25, 2011
The Boyd Group Income Fund, which owns Boyd Autobody and Glass,
Gerber Collision and Glass and Gerber National Glass Services, has
reported its financial results for the three and twelve-month periods
ended December 31, 2010. The company reports a 14.8 percent increase
in sales-from $223.7 million in 2009 to $256.8 million in 2010-which
it attributes in part to the purchase of True2Form Collision Repair
Centers Inc., acquired in July 2010.
Boyd also says its same-store sales increased by 1.4 percent-or
$3.1 million-for the year. The company's adjusted EBITDA totaled
$18.9 million for 2010, compared with $15.0 million in 2009-a 26.3
percent increase. Likewise, net earnings rose 97.8 percent-from
$8.9 million in 2009 to $17.6 million in 2010.
"We are very pleased to report record sales, net earnings,
adjusted EBITDA, and distributable cash for the year," says
brock bulbuck, president and Chief Executive Officer of the Boyd
Group. "Market conditions improved significantly as the year
progressed, especially during the fourth quarter, which was very
favorable. In particular, the fund benefited from a significant
and unusual hail storm in the Arizona market, which alone added
between $1.1 million and $1.3 million of EBITDAto our fourth quarter
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