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Fourth Quarter, Fiscal Year 2014 Results For U.S. Auto Parts Network

Company reports fiscal 2014 net sales of $283.51 million.

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CARSON, Calif. – U.S. Auto Parts Network reported net sales for the fourth quarter ended Jan. 3, 2015, (Q4 2014) of $70.57 million compared with the fourth quarter ended Dec. 28, 2013, (Q4 2013) of $59.74 million, an increase of 18.1 percent from Q4 2013. Excluding the 14th week in the fiscal fourth quarter ended Jan. 3, 2015, net sales were $66.93 million, an increase of 12 percent from Q4 2013.

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Q4 2014 net loss attributable to U.S. Auto Parts was $2.41 million, or 7 cents per share, compared with Q4 2013 net loss of $1.33 million, or 4 cents per share.

Net Sales for fiscal year 2014 were $283.51 million compared with fiscal year 2013 of $254.75 million, an increase of 11.3 percent. Excluding the 53rd week, net sales for the fiscal year 2014 were $279.87 million, an increase of 9.9 percent. Net loss for fiscal year 2014 was $6.88 million, or 21 cents per share, compared to a net loss of $15.63 million or 48 cents per share for fiscal year 2013.

“We are pleased with our third consecutive quarter of double-digit revenue growth and double-digit growth for the entire year,” said Shane Evangelist, CEO of U.S. Auto Parts.

Net sales increased to $70.57 million for Q4 2014 compared to $59.74 million for Q4 2013. Q4 2014 net sales consisted of online sales, representing 90.6 percent of the total (compared to 89.3 percent in Q4 2013), and offline sales, representing 9.4 percent of the total (compared to 10.7 percent in Q4 2013). The net sales increase was primarily due to an increase of $10.56 million, or 19.8 percent, in online sales. The sales channels growth is the result of a $6.80 million, or 16.5 percent, increase in e-commerce sales channels and a$3.69 million, or 31.1 percent, increase in the company’s marketplaces. The $6.80 million increase in the e-commerce sales channels was driven by a 9.9 percent increase in conversion and a 2.8 percent increase in average order value. The $3.69 million increase in the company’s online marketplaces was driven by a 25.5 percent increase in orders and a 4.6 percent increase in average order value.

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Gross profit increased by $1.44 million, or 8.2 percent, in Q4 2014 compared to Q4 2013.

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