R&B Inc. Earnings Rise, Guides Higher For 2002.(Brief Article)

R&B Inc., a maker of hard-to-find replacement parts, fasteners and hardware for the automotive aftermarket, said its fourth-quarter earnings increased from a year ago and affirmed its expectation of higher earnings in fiscal 2002.

For the quarter ended December 29, earnings rose to $1.9 million, or 22 cents per diluted share, compared with $0.2 million, or two cents per share, in the same period a year earlier.

Earnings were boosted by cost-cutting initiatives and the favorable effect of a 13-week period in the fourth quarter of 2001, versus a 14-week period in 2000.

Sales increased to $49.3 million from $49.2 million a year earlier.

The company said it remained comfortable with its previous forecast of earnings per share for fiscal 2002 of between 85 cents and 95 cents, boosted by higher sales volume, the elimination of goodwill amortization, lower provisions for excess and obsolete inventory and continued expense control.

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