Attention Business/Financial Editors:
AADCO announces revenues for July 2005
AADCO Automotive Inc. (AA: TSX - Venture Exchange)
BRAMPTON, ON, Aug. 3 /CNW/ - AADCO today reported that its revenues(unaudited) for the month of July 2005 reached an all time high of $623,597for a July. The sales for July represent a 23% increase over the previousyear's July sales of $503,905. Sales for both the LKQ and Coreline divisionsalso performed above expectations. States Charles Hodgkinson, CEO, "With Julybeing the first month of our fiscal year, and generally a soft month in theindustry, it is a great start to the year." The recent capital injection byQuorum Managed Funds allowed AADCO to have more inventory ready for sale andtake advantage of certain market opportunities. It also allowed the company tosignificantly improve its balance sheet as it meets with Asset Backed Lendersfor a significant line of credit for ongoing inventory purchases and saleswhich would be a first in this industry space.
About AADCO
AADCO Automotive Inc. is a growing, Canadian public company with a unique business model committed to complete vehicle dismantling to provide quality used OEM parts, recyclable core from insurance salvage and aftermarket parts to meet the needs of the collision/ mechanical repair industry, as well as the remanufacturing industry through it's Coreline division. AADCO serves over 3,000 mechanical and collision repair clients across Ontario through its LKQ parts division. AADCO maintains one of the largest unbolted inventory of quality used OEM parts in Canada at its 87,000 sq. ft. facility in Brampton, Ontario. AADCO is the only auto recycler to have been awarded the Ecologo for environmental stewardship.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information: Please contact: AADCO Automotive Inc. - (905) 789-9313, Charles Hodgkinson, CEO, chodgkinson@aadco.ca
