ATD reports 13.3% increase in net sales for 2010
American Tire Distributors Holdings Inc. and its wholly-owned subsidiary American Tire Distributors Inc. reports the consolidated net sales for its fiscal year ended Jan. 1, 2011, were $2,460.2 million, a $288.4 million or 13.3% increase compared with fiscal 2009.
During fiscal 2010, the company was acquired by affiliates of TPG Capital which resulted in transaction fees (cash charges) of $43.9 million, non-cash charges related to the transaction of $64.7 million, and recurring incremental non-cash amortization expense of $22.2 million.
These charges contributed to an operating loss from operations in fiscal 2010 of $110.9 million. Excluding the impact of these charges, 2010 results would have reflected income from operations of $19.9 million, the company notes. Income from operations in 2009 was $12.3 million.