ATC Technology reports 4th-quarter profit, sales slip 1 percent

ATC Technology posts 4Q profit sales nearly flat

DOWNERS GROVE, Ill. — Vehicle remanufacturing and logistics company ATC Technology Corp. posted a fourth-quarter profit Tuesday, reversing a year-ago loss weighed by an impairment charge and other expenses.

The company earned $7.7 million, or 38 cents per share, after a loss of $52.9 million, or $2.66 per share, in the same period a year earlier.

Last year’s results included a goodwill impairment charge of $56.8 million for the company’s drivetrain segment.

Adjusted earnings were 50 cents per share for the most recent quarter as well as the year-ago period.

Revenue slid 1 percent to $125.3 million from $126.5 million.

Analysts, on average, were expecting a profit of 50 cents per share on sales of $127.9 million, according to a poll by Thomson Reuters.

For the full year, ATC earned $11.7 million, or 59 cents per share, up from a loss of $25.2 million, or $1.21 per share, a year earlier.

Revenue fell to $485 million from $530.6 million.

For 2010, the company expects earnings of $2.13 to $2.45 per share.

Analysts are expecting a profit of $2.60 per share.

ATC’s shares closed up 5 cents at $21.04.