Motorcar Parts of America, Inc. Announces Unaudited Consolidated for the Second Quarter and Six Months Ended September 30, 2018; Reaffirms Sales Guidance for the Fiscal Year 2019
January 08, 2019 at 01:00 pm
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Motorcar Parts of America, Inc. announced unaudited consolidated for the second quarter and six months ended September 30, 2018. For the quarter, the company announced net sales of $127,939,000 compared to $110,261,000 a year ago. Operating income was $10,393,000 compared to $12,715,000 a year ago. Income before income tax expense was $4,694,000 compared to $9,193,000 a year ago. Net income was $3,513,000 compared to $5,595,000 a year ago. Basic net income per share was $0.19 compared to $0.30 a year ago. Diluted net income per share was $0.18 compared to $0.29 a year ago.
For the six months, the company announced net sales of $219,607,000 compared to $204,956,000 a year ago. Operating income was $8,526,000 compared to $28,283,000 a year ago. Loss before income tax expense was $2,248,000 compared to income of $21,447,000 a year ago. Net loss was $1,982,000 compared to net income of 13,415,000 a year ago. Basic net loss per share was $0.10 compared to basic net income per share of $0.72 a year ago. Diluted net income per share was $0.10 compared to $0.69 a year ago.
Motorcar Parts of America reaffirms its fiscal 2019 annual adjusted sales guidance of between 6.5% and 8.5% growth year over year, with expectations of reaching the higher end.
Motorcar Parts of America, Inc. is a supplier of automotive aftermarket non-discretionary replacement parts and test solutions and diagnostic equipment. Its Hard Parts segment includes light duty rotating electric products, such as alternators and starters, wheel hub products, brake-related products, including brake calipers, brake boosters, brake rotors, brake pads and brake master cylinders, and turbochargers. The Test Solutions and Diagnostic Equipment segment includes applications for combustion engine vehicles, including bench-top testers for alternators and starters, equipment for the pre- and post-production of electric vehicles, and software emulation of power system applications for the electrification of all forms of transportation (including automobiles, trucks, and electric vehicle charging stations). Its Heavy Duty segment includes non-discretionary automotive aftermarket replacement hard parts for heavy-duty truck, industrial, marine, and agricultural applications.
Motorcar Parts of America, Inc. Announces Unaudited Consolidated for the Second Quarter and Six Months Ended September 30, 2018; Reaffirms Sales Guidance for the Fiscal Year 2019