Motorcar Parts of America, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
June 11, 2024 at 12:58 pm
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Motorcar Parts of America, Inc. reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported sales was USD 189.48 million compared to USD 194.73 million a year ago. Net income was USD 1.34 million compared to USD 1.46 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
For the full year, sales was USD 717.68 million compared to USD 683.07 million a year ago. Net loss was USD 49.24 million compared to USD 4.21 million a year ago. Basic loss per share from continuing operations was USD 2.51 compared to USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 2.51 compared to USD 0.22 a year ago.
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. 
