2/22/2011 10:33:00 AM
NEWS BRIEFS
New Product Investments Drive Dorman Sales
Dorman Products reported sales, including fasteners, rose 27% to $122.5 million during the fourth quarter of 2010, while net income increased 58% to $12.2 million.
Full-year revenue gained 20.8% to $455.7 million, driven by “strong overall demand for our products and higher new product sales.” Net income soared 74% to $46.1 million.
“Dorman’s strong revenue and earnings growth in the fourth quarter and full year were driven by the introduction of a record number of new parts during 2010, and continued market penetration of formerly dealer-only products that were introduced in recent years,” stated CEO Steven Berman.
“During 2010 we continued to invest in product development, engineering and sales resources. We expect these investments to further increase our industry-leading level of new product introductions in the years to come.” ©2011 GlobalFastenerNews.com
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