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As of 8:04 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

coast distribution system/de (CRV) Key Developments

Coast Distribution System Inc. Announces Resignation of John W. Casey as Director, with Effect from August 26, 2014

Coast Distribution System Inc. announced that John W. Casey, who has been a member of the company's board of directors since 1997, notified the company that he has decided, for personal reasons, not to stand for reelection to the board when his current term of office expires on August 26, 2014, the date of the company's upcoming annual meeting of stockholders.

Coast Distribution System Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Coast Distribution System Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net loss of $738,000, or $0.15 per diluted share, compared to a net loss of $939,000, or $0.20 per diluted share, in the same quarter of 2013. This improvement was primarily attributable to an increase in gross margin and a reduction in selling, general and administration expenses. Net sales for the 2014 first quarter declined by 2.1%, to $24.9 million, compared to net sales of $25.4 million in the first quarter of 2013. The Company's net sales were adversely impacted by the unusually severe and extended winter weather conditions that persisted throughout the Midwest, Northeast, and Southeast regions of the United States and throughout most of Canada. Operating loss was $956,000 against $1,169,000 for the same period a year ago. Loss before income taxes was $1,126,000 against $1,358,000 for the same period a year ago.

Coast Distribution System Inc. Enters into Distributor Agreement with Purple Line

Coast Distribution System Inc. announced it has entered into an agreement to become the exclusive distributor of Purple Line products to towable RV enthusiasts throughout North America. The relationship means that RV dealers in North America will have immediate access to Purple Line's Trailer Mover motor systems and trailer upgrade products. In addition, Coast will join with Purple Line to develop marketing and training programs for its dealers. Purple Line's array of Trailer Movers equip a conventional trailer with remote-controlled motors that more easily move the trailer for hitching, parking and leveling, without the aid of a tow vehicle. With the simple touch of the buttons on the wireless remote control unit, the operator can easily maneuver the trailer while walking around it to check clearances and position. Dealers can order Purple Line products from Coast Distribution effectively immediately.

Coast Distribution System Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Coast Distribution System Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of USD 19,875,000 against USD 20,674,000 for the same period a year ago. Operating loss was USD 1,805,000 against USD 1,935,000 for the same period a year ago. Loss before income taxes was USD 1,860,000 against USD 1,936,000 for the same period a year ago. Net loss was USD 1,282,000 against USD 1,480,000 for the same period a year ago. Basic and diluted loss per share was USD 0.27 against USD 0.32 for the same period a year ago. The decreases in net loss in the fourth quarter of 2013, and for the full year 2013, respectively, were primarily attributable to increases in the gross margin to 13.6% and to 17.7%, respectively, from 12.6% and 15.2%, respectively, in the same periods of 2012. For the year, the company reported net sales of USD 113,938,000 against USD 113,521,000 for the same period a year ago. Operating profit was USD 62,000 against operating loss of USD 2,133,000 for the same period a year ago. Loss before income taxes was USD 494,000 against USD 2,595,000 for the same period a year ago. Net loss was USD 637,000 against USD 2,014,000 for the same period a year ago. Basic and diluted loss per share was USD 0.14 against USD 0.44 for the same period a year ago.

Coast Distribution System Inc. Elects Thomas Faludy to its Board of Directors

The Coast Distribution System Inc. announced the election of Tom Faludy to the company's Board of Directors. He recently completed a more than 20 year career with Scott Fetzer Co.

 

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