Uni-Select recorded a profit adjusted down

The Quebec company Uni-Select (TSX: UNS) has state Thursday in adjusted earnings of $ 11.5 million for the third quarter, down from a $ 17.2 million for the same period in 2011.

It generates sales of $ 463.4 million, against $ 472.5 million a year earlier.

During the third quarter, net non-recurring charge of tax of $ 12.4 million was recorded in earnings to cover the costs of implementation of the plan of consolidation of the distribution network and other non-recurring items.

Given this charge, the Company recorded a net loss in the third quarter of $ 900,000 or four cents per share compared to a net profit of $ 16.6 million or $ 0.77 per share for the same period of the prior year.

The decrease in sales of 1.9 percent in the quarter is mainly due to temporary downturn is rife in the industry.

Founded in 1968, Uni-Select is a leading distributor of parts replacement, equipment, tools and accessories for motor vehicles in North America. Uni-Select is the 6th largest distributor in the United States and the largest independent distributor of automotive paints and related products.

With 6200 employees, the Uni-Select network includes over 2,500 independent jobbers and services over 3,500 points of sale in North America. The registered office of Uni-Select is located in Boucherville.