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Fourth-quarter profit fell nearly 70 percent for FinishMaster Inc., the Indianapolis company that distributes auto paint and other products to body shops.
The $2.4 million profit was down from $7.6 million a year earlier, partly because the year-ago period benefited from the settlement of a lawsuit, FinishMaster said today.
After taking out the settlement, profit in the most recent quarter plummeted 36 percent.
Finish Master said rising expenses for adding branch locations contributed to the downturn. Personnel expenses also increased.
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