The Boyd Group (Gerber Collision & Glass) reported a 32.7 percent increase in sales for the second quarter of 2012, largely driven by sales from Cars Collision, Master Collision and 14 other new repair locations opened since April 1, 2011.
Sales in the U.S. totaled $85.7 million, an increase of $26.8 million or 45.6 percent over the same period in 2011. The increase resulted from $15.6 million of sales from Cars Collision, $5.2 million from Master Collision, $3.2 million from 11 new locations, $0.9 million from 1.7 percent same-store sales growth, and $2.6 million from favorable currency translation of same-store sales, offset by lost sales from the closure of two locations.
"We continued to execute on our growth strategy through a combination of single location growth as well as through the acquisition of other multi-location collision repair businesses," said Brock Bulbuck, president and CEO of The Boyd Group. "We recorded growth in sales and adjusted EBITDA as a result of these new locations, but more importantly, we also continued to experience positive same-store sales growth in the U.S., where we have focused our growth.
"As we had expected last quarter, our overall results were adversely affected by the carry-over effects of the mild and dry winter. These effects were more pronounced in Canada, as they reduced pent-up demand that, under normal circumstances, would help contribute to second-quarter sales. Overall, we believe that our growth strategy and strong industry position have helped us to gain market share and minimize the weather-related challenges during the first half of the year."
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