Motorcar Parts of America (MPAA) Misses Q4 EPS by 3c

Motorcar Parts of America (NASDAQ: MPAA) reported Q4 EPS of $0.50, $0.03 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $97.4 million versus the consensus estimate of $99.89 million.

"Results for fiscal 2016 reflect continued strength across all product lines – supported by an aging vehicle population, increased miles driven and related factors, all of which continue to contribute to overall growth in the aftermarket industry,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

Joffe noted that the company achieved solid market share gains in rotating electrical for the year. “Equally important, we realized strong growth from our wheel hub and brake master cylinder product offerings which impacted product mix and therefore gross margins,” Joffe said.

He noted that results for the year reflect new investments for innovation, growth and acquisitions, as well as the company’s value-added customer service programs – including Motorcar Parts of America’s industry-leading customer service, training and quality assurance initiatives.

“These investments position the company for even further success and growth. As always, we thank our entire team for their daily commitment to excellence, customer service and our company,” Joffe said.

For earnings history and earnings-related data on Motorcar Parts of America (MPAA) click here.

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