Diamond Triumph Auto Glass, Inc. Announces Record 2000 Results

Apr 02, 2001, 01:00 ET from Diamond Triumph Auto Glass, Inc.

    KINGSTON, Pa., April 2 /PRNewswire/ -- Diamond Triumph Auto Glass, Inc.
 announced today that net sales for the year ended December 31, 2000 increased
 $19.5 million, or 11.9%, to $184.0 million as compared to $164.5 million for
 the year ended December 31, 1999.  EBITDA for 2000 increased by $4.6 million,
 or 33.3%, to $18.4 million from $13.8 million for 1999.
 
                        Diamond Triumph Auto Glass, Inc.
                                ($ in Millions)
 
                                                         Year Ended
                                                         December 31
                                                    2000            1999
 
     Net Sales                                     $184.0          $164.5
     Cost of Sales                                   56.6            51.4
     Gross Profit                                   127.4           113.1
     Operating Expenses                             111.8           101.9
     Income From Operations                         $15.6           $11.2
 
     Net Income Before Extraordinary Item            $2.9            $0.0
     Extraordinary Loss on Extinguishment of Debt,
      Net of Taxes                                    0.5             0.0
 
     Net Income                                      $2.4            $0.0
 
     EBITDA (a)                                     $18.4           $13.8
 
     Cash Interest                                   $9.7           $10.1
 
     Total Long-Term Debt                          $100.5          $107.5
 
     (a) EBITDA represents income before taxes, interest expense, depreciation
 and amortization expense.
 
     Norm Harris, Diamond Triumph's President had the following comments
 regarding the Company: "We are extremely pleased with our 2000 operating
 results.  We experienced a record sales volume and solid earnings.  It was
 very rewarding after the challenging industry conditions faced in 1999 to
 respond with earnings growth in excess of 33%.  We feel our performance is a
 direct reflection of our solid team of service and distribution center, sales
 and administrative personnel who have consistently displayed quality
 leadership and performance."
     Michael Sumsky, Diamond Triumph's Executive Vice President and Chief
 Financial Officer added, "Our advantageous capital structure and low cost
 strategy allowed us to generate strong cash flow during 2000 to repay
 $7 million of our outstanding bank debt.  This structure has allowed us to
 support our business needs during tougher industry conditions and to generate
 meaningful free cash flow during periods of increased earnings."
     Diamond Triumph Auto Glass, Inc. headquartered in Kingston, PA, is a
 leading provider of automotive glass replacement and repair services.  Diamond
 operates a network of 232 automotive glass service centers, over 1,000 mobile
 installation vehicles and four distribution centers in 39 states.
 
 

SOURCE Diamond Triumph Auto Glass, Inc.
    KINGSTON, Pa., April 2 /PRNewswire/ -- Diamond Triumph Auto Glass, Inc.
 announced today that net sales for the year ended December 31, 2000 increased
 $19.5 million, or 11.9%, to $184.0 million as compared to $164.5 million for
 the year ended December 31, 1999.  EBITDA for 2000 increased by $4.6 million,
 or 33.3%, to $18.4 million from $13.8 million for 1999.
 
                        Diamond Triumph Auto Glass, Inc.
                                ($ in Millions)
 
                                                         Year Ended
                                                         December 31
                                                    2000            1999
 
     Net Sales                                     $184.0          $164.5
     Cost of Sales                                   56.6            51.4
     Gross Profit                                   127.4           113.1
     Operating Expenses                             111.8           101.9
     Income From Operations                         $15.6           $11.2
 
     Net Income Before Extraordinary Item            $2.9            $0.0
     Extraordinary Loss on Extinguishment of Debt,
      Net of Taxes                                    0.5             0.0
 
     Net Income                                      $2.4            $0.0
 
     EBITDA (a)                                     $18.4           $13.8
 
     Cash Interest                                   $9.7           $10.1
 
     Total Long-Term Debt                          $100.5          $107.5
 
     (a) EBITDA represents income before taxes, interest expense, depreciation
 and amortization expense.
 
     Norm Harris, Diamond Triumph's President had the following comments
 regarding the Company: "We are extremely pleased with our 2000 operating
 results.  We experienced a record sales volume and solid earnings.  It was
 very rewarding after the challenging industry conditions faced in 1999 to
 respond with earnings growth in excess of 33%.  We feel our performance is a
 direct reflection of our solid team of service and distribution center, sales
 and administrative personnel who have consistently displayed quality
 leadership and performance."
     Michael Sumsky, Diamond Triumph's Executive Vice President and Chief
 Financial Officer added, "Our advantageous capital structure and low cost
 strategy allowed us to generate strong cash flow during 2000 to repay
 $7 million of our outstanding bank debt.  This structure has allowed us to
 support our business needs during tougher industry conditions and to generate
 meaningful free cash flow during periods of increased earnings."
     Diamond Triumph Auto Glass, Inc. headquartered in Kingston, PA, is a
 leading provider of automotive glass replacement and repair services.  Diamond
 operates a network of 232 automotive glass service centers, over 1,000 mobile
 installation vehicles and four distribution centers in 39 states.
 
 SOURCE  Diamond Triumph Auto Glass, Inc.