Motorcar Parts of America (MPAA) Misses Q1 EPS by 6c, Revenues Miss

Motorcar Parts of America (NASDAQ: MPAA) reported Q1 EPS of $0.15, $0.06 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $93.8 million versus the consensus estimate of $95.73 million.

“Notwithstanding weak results for the quarter, particularly in the month of April, we are encouraged by the industry regaining momentum and we expect a solid sales recovery in the quarters ahead,” said Selwyn Joffe, chairman, president and chief executive officer.

“The company has reached a positive inflection point for future growth, with the sales and profitability outlook for the short and long term very encouraging,” Joffe said. He emphasized that sales for the quarter were impacted by customer allowances related to new business, customer stock adjustment accruals in connection with future update orders and the transition to the company’s new distribution center.

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

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