Motorcar Parts of America Updates Guidance for Fiscal 2009
MPA has also signed a five-year agreement valued at approximately $22 million in the aggregate with an OEM automotive parts supplier to provide remanufactured alternators and starters to dealerships and specialty import wholesale parts distributors.
Motorcar Parts of America Receives Non-Compliance Letter from NASDAQ Concerning Board Composition
MPA said it expects to fill vacancy and regain compliance in a timely manner.
Motorcar Parts of America Reports Second Quarter Net Income of $2.3 Million
Net income for the fiscal 2009 second quarter ended Sept. 30 jumped almost five-fold to $2.3 million.
Motorcar Parts of America Completes Suncoast Automotive Products Acquisition
LOS ANGELES — Motorcar Parts of America (MPA) has completed the acquisition of certain assets of Suncoast Automotive Products, a privately held company based in Pompano Beach, Fla. MPA acquired Suncoast’s new and remanufactured alternators and starters operation. Terms were not disclosed. "This transaction continues our acquisition strategy and enhances the company’s market share in
Motorcar Parts of America Acquires Suncoast Automotive Products Business
Motorcar Parts of America (MPA) has completed its acquisition of certain assets of Suncoast Automotive Products, a privately held company based in Pompano Beach, Fla. MPA acquired Suncoast’s new and remanufactured alternators and starters operation. Separately, the company said its credit facility with Union Bank of California, N.A. has been increased from $35 million to $40 million. The company indicated that the credit facility is available for future acquisitions, greenfields, working capital and general corporate purposes.
Motorcar Parts of America Names Corporate Finance Executive to Board
LOS ANGELES — Motorcar Parts of America (MPA) has appointed Scott Adelson to its board of directors, expanding the board to six members. Adelson, 47, is a senior managing director and global co-head of corporate finance for the international investment banking firm Houlihan Lokey. Based in Los Angeles, he serves as a member of its
Motorcar Parts of America Announces Record First Quarter Results
Motorcar Parts of America, Inc. (MPA) has announced financial results for the quarter ended June 30. "Our financial performance in the first quarter of fiscal 2008 was very strong. We achieved a 270 basis point improvement in gross margin and after eliminating the effect of reducing our general and administrative expenses for indemnification reimbursement in the first quarter of fiscal 2007, we achieved adjusted EBITDA growth of 42 percent," said MPA’s Chairman, President and CEO, Selwyn Joffe.
Motorcar Parts of America Announces Third Quarter Results
Motorcar Parts of America, Inc. (MPA) has announced financial results for the third quarter of fiscal 2006. Revenues for the quarter ending Dec. 31, 2005 were $30.3 million, up 25.2 percent from $24.2 million in the same quarter last year. Gross profit and gross margin were $6.9 million and 22.7 percent, respectively, as compared to $8.2 million and 33.8 percent in the third quarter of fiscal 2005. Gross profit in the third quarter of fiscal 2006 was negatively impacted by marketing allowances (accounted for as an offset to sales), which increased $2.3 million over the like quarter in the prior year. The gross margin in the third quarter of fiscal 2005 was positively affected by the recognition of under returned core revenue, which had a greater gross margin percentage than finished goods in that quarter.
Motorcar Parts of America Receives Extra Miler Award from AutoZone
Motorcar Parts of America, Inc. (MPA) has been recognized with AutoZone Inc.’s Extra Miler award for the second consecutive year. The award was presented at the AutoZone Vendor Summit on Jan. 18. AutoZone presents the prestigious Extra Miler award each year to a select group of its several hundred suppliers that have gone the extra mile for AutoZone and its customers. Winners are recognized for their ability to provide outstanding support for their individual product categories.
Motorcar Parts of America Appoints Mervyn McCulloch as New CFO
Motorcar Parts of America, Inc.(MPA), has appointed Mervyn McCulloch as its new CFO. McCulloch is taking the office over from Chuck Yeagley who served as MPA’s CFO since June 2000.