Reddi Brake Supply Breaks Even for Year

Reddi Brake Supply Corp., a nationwide chain of auto parts stores that is based in Ventura, basically broke even in the fiscal year ended June 30, despite record sales created by a sharp increase in the number of its outlets.

Net income in fiscal 1995 was $66,000, or less than 1 cent a share, on sales of $46.7 million. This compared with the previous year’s loss of $16.3 million, or $1.16 a share, on sales of $25.7 million.

This year’s earnings were held back by such problems as inventory returns and the money-losing sale of the company’s unprofitable Wesco division.

“We are now moving beyond our entrepreneurial beginnings and building a professionally managed company with a new focus, new management talent and new controls,” said William M. Leider, Reddi’s president and chief executive.

Reddi, which sells brake systems and other parts to professional mechanics, grew from 47 units in June, 1994, to 99 at the end of the 1995 fiscal year.