Net sales for the fiscal 2017 fourth quarter increased 17.4 percent to $114.4 million from $97.4 million for the same period a year earlier.
The company announced the appointment of Jack Vollbrecht as senior vice president, strategy and government relations – a newly created position.
XL Parts is one of the fastest-growing direct-to-the-installer automotive parts distributors in the country, offering more than 120,000 part numbers from suppliers that offer national and OE brands.
The company’s previous share repurchase program was limited to $10 million. MPA has approximately 18.7 million shares outstanding.
Motorcar Parts of America’s board now consists of 10 directors, four of whom were appointed in the past year and nine of whom are independent.
“Superior product management and customer service are fundamental commitments throughout our company. We are gratified to be recognized by O’Reilly Auto Parts for our entire Street Smart Suite of services that distinguish MPAA as an industry leader,” said Selwyn Joffe, chairman, president and CEO of Motorcar Parts of America.
Net sales for the fiscal 2017 third quarter were $112.6 million compared with $94 million for the same period a year earlier.