$MPAA (Motorcar Parts of America, Inc.)

$MPAA {{ '2016-06-14T14:46:26+0000' | timeago}} • Webcast

At March 31, 2016, $MPAA had a $23.4MM term loan, borrowings of $7MM on the revolving credit facility and approx. $21.9MM in cash resulting in net bank debt of approx. $8.5MM. Total cash availability on the revolver credit facility was approx. $114MM at March 31, 2016.

$MPAA {{ '2017-06-14T17:35:53+0000' | timeago}} • Webcast

$MPAA sees continued growth in all of its segments as the car population ages, along with the increase in the average age of cars. This leads to an increased demand in car parts, Motorcar Parts of America observed as it posted 4Q17 results.

$MPAA {{ '2017-06-14T12:23:20+0000' | timeago}} • Announcement

Despite lower replacement rates in 4Q17 due to weather, $MPAA said the outlook for non-discretionary automotive parts remains strong, supported by favorable dynamics such as an aging vehicle population, increased miles driven and relatively low fuel prices.

$MPAA {{ '2017-06-14T12:21:32+0000' | timeago}} • Announcement

$MPAA's net sales for 4Q17 increased 17.4% from last year. The company's sales performance for 4Q17 reflects continued strength of its rotating electrical business, as well as contributions from its other product lines, including the company's emerging brake power boosters, which began shipping in August.

$MPAA {{ '2017-06-14T12:20:15+0000' | timeago}} • Announcement

$MPAA reported a rise in 4Q17 earnings driven by higher sales as well as lower operating expenses. Net income rose to $9.81MM or $0.50 per share from $2.3MM or $0.12 per share last year. Net sales grew to $114.41MM from $97.44MM. Adjusted EPS increased to $0.58 from $0.50.

$MPAA {{ '2017-05-10T14:29:48+0000' | timeago}} • Announcement

$MPAA said Doug Schooner, currently chief manufacturing officer, will also serve as SVP, operations for the under-the-car product lines. Bryan Cain, who most recently served as SVP of supply chain, has assumed the position as SVP, operations for rotating electrical. $MPAA appointed Jack Vollbrecht as new SVP, strategy and government relations.

$MPAA {{ '2017-05-10T14:28:16+0000' | timeago}} • Announcement

$MPAA reassigned the responsibilities of the COO position to enhance efficiency, technological innovation and new product line introductions. Steve Kratz, who served as COO, has been appointed to the newly created position of VP, new technologies.

$MPAA {{ '2017-03-27T14:34:07+0000' | timeago}} • Announcement

$MPAA BoD has authorized a share repurchase program increase to $15MM of its outstanding common stock in private transactions. $MPAA's previous share repurchase program was limited to $10MM.

$MPAA {{ '2017-02-22T13:38:14+0000' | timeago}} • Announcement

$MPAA announced it has appointed Barbara L. Whittaker and Timothy D. Vargo to the Board of Directors.

$MPAA {{ '2016-08-08T17:42:02+0000' | timeago}} • Announcement

$MPAA said it expanded its product line with introduction of in-house developed brake power boosters and turbochargers through a recently completed purchase of Winchester, Virginia-based ZOR Industries. ZOR Industries is a remanufacturer of automotive, heavy duty truck, agricultural and industrial turbochargers.

$MPAA {{ '2016-06-14T18:05:29+0000' | timeago}} • Announcement

Automotive parts company $MPAA said its BoD has elected two new directors, Joseph Ferguson and David Bryan. Joseph Ferguson is a co-founder and managing partner at Vicente Capital Partners. David Bryan currently teaches at University of California at Santa Cruz.

$MPAA {{ '2016-06-14T15:14:01+0000' | timeago}} • Webcast

Analyst Jimmy Baker of B. Riley & Company asks about $MPAA's FY17 revenue guidance and annualized run rate. CFO David Lee said the majority of revenue will be from existing product growth and the run rate is expected to be a percentage higher than the calendar year revenue. The vast majority of growth is expected to start mid-year.

$MPAA {{ '2016-06-14T15:01:36+0000' | timeago}} • Webcast

Analyst Steven Dyer of Craig-Hallum Capital Group asks about $MPAA's new product launch in the September quarter. CEO Selwyn Joffe said the product launch will be bigger than master cylinders but not as big as wheel hubs. He added that it is a good product line with good margin and that the sales guidance includes this product launch.

$MPAA {{ '2016-06-14T14:52:21+0000' | timeago}} • Webcast

Excluding acquisitions, $MPAA's net sales target for FY17 is between $420-440MM with an adjusted GM target between 27.5-30.5%.

$MPAA {{ '2016-06-14T14:46:26+0000' | timeago}} • Webcast

At March 31, 2016, $MPAA had a $23.4MM term loan, borrowings of $7MM on the revolving credit facility and approx. $21.9MM in cash resulting in net bank debt of approx. $8.5MM. Total cash availability on the revolver credit facility was approx. $114MM at March 31, 2016.

$MPAA {{ '2016-06-14T14:30:08+0000' | timeago}} • Webcast

$MPAA said in 4Q16, adjusted net sales of rotating electrical increased 4.2% to $76.6MM. Adjusted net sales of wheel hub assemblies and bearings increased 40.8% to $22.3MM. Net sales of master cylinders increased approx. 34.4% to $2.1MM.

$MPAA {{ '2016-06-14T14:20:32+0000' | timeago}} • Webcast

The market size for USA and Canada for $MPAA's current products is estimated to be approx. $3.8Bil. The remaining potential in these markets for car parts is estimated to be $106Bil plus which should provide opportunity to introduce new parts and grow the business mechanically.

$MPAA {{ '2016-06-14T14:12:03+0000' | timeago}} • Webcast

$MPAA said for FY16, net income was $10.6MM or $0.55 per share and adjusted net income was $39.6MM or $2.08 per share. GM was 27.4%. Adjusted GM was 30.7% which was higher than the top range of guidance.

$MPAA {{ '2016-06-14T13:53:41+0000' | timeago}} • Webcast

California-based company $MPAA achieved adjusted sales of $383.3MM in FY16. Results were supported by continued strength across all product lines which include rotating electrical wheel hubs and emerging master cylinders. The company believes the outlook is encouraging and that it is well-positioned for growth as FY17 progresses.

$MPAA {{ '2016-06-14T12:28:58+0000' | timeago}} • Announcement

$MPAA's adjusted net sales for 4Q16 increased to $100.9MM from $90.9MM last year. Adjusted net income for 4Q16 was $9.5MM or $0.50 per diluted share compared with $9.9MM or $0.53 per diluted share in 4Q15.

$MPAA {{ '2016-06-14T12:24:47+0000' | timeago}} • Announcement

Automotive parts distributor $MPAA reported net income of $2.3MM or $0.12 per share in 4Q16 compared to $3.1MM or $0.16 per share in 4Q15 hurt by higher Opex. Net sales grew to $97.4MM versus last year, reflecting continued strength of its rotating electrical and wheel hub business and increased contributions from the master cylinder product line.

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