Aftermarket Technology warns of 2003 shortfall

LOS ANGELES, Sept 26, 2003; Reuters reporte that auto parts maker Aftermarket Technology Corp. on Friday warned that its 2003 earnings will fall short due to lower-than-expected Chrysler volumes, coupled with soft demand for aftermarket engines.

The company, based in Westmont, Illinois, said it now projects third-quarter net earnings of 15 cents to 17 cents a share, versus the previous estimate of 15 cents to 20 cents. Full-year EPS was projected at 97 cents to $1.02, compared with the previous estimate of $1.12.

Aftermarket also said it has signed a contract with Cingular Wireless, the No. 2 U.S. wireless telephone company, to provide a portion of Cingular's handset distribution needs.