Motorcar Parts of America Receives Compliance Notice From NASDAQ
The NASDAQ notice directs the company to submit a plan to regain compliance with the continued listing requirements by Aug. 28.
Motorcar Parts of America Receives Compliance Notice From NASDAQ
MPA announced on June 29 a delay in its filing due to the company’s inability to timely process the financial information for the fiscal year as a result of its acquisition of Fenwick Automotive in May 2011.
Motorcar Parts of America to Delay Fiscal 2012 Filing
MPA stated that the delay is being caused by items related to Fenwick Automotive Products Limited (Fenco), which it acquired in May 2011.
Motorcar Parts of America Announces $15 Million Private Placement
The company says it will use the proceeds to enhance the integration of its Fenco Automotive Products acquisition and for general corporate purposes to support the company’s growth.
Motorcar Parts of America Reports Fiscal 2012 Second Quarter Results
Company notes strong rotating electrical results and says Fenco acquisition transition is progressing.
Motorcar Parts of America Reports Progress in Completing Filings
MPA also said it continues to focus on strategic initiatives to enhance the value of the Fenco subsidiary – including the recent closure of the CV axle operation in Bedford, N.H.
Motorcar Parts of America Increases Liquidity with New Credit Facility
The credit facility is comprised of a $75 million term loan with Cerberus Business Finance and a $20 million revolving credit facility with PNC Bank, N.A., a member of The PNC Financial Services Group.
Motorcar Parts of America Reports Fiscal 2012 First Quarter Results
Sales up 97 percent; enhanced by partial-quarter contributions from Fenco acquisition.
Motorcar Parts of America Increases Credit Facility
At the end of MPA’s fiscal year on March 31, the company had no debt outstanding on its revolving credit facility and $7.5 million outstanding on its term loan.
Motorcar Parts of America Reports Fiscal 2011 Third Quarter Results
Net income jumps 75 percent for the third quarter and 44 percent for nine months.