Dorman Products (DORM) Misses Q4 EPS by 1c; Expands Buyback Program

Dorman Products (NASDAQ: DORM) reported Q4 EPS of $0.64, $0.01 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $196.2 million versus the consensus estimate of $186.73 million.

The Company also announced that its Board of Directors has authorized an increase to the existing share repurchase program from $30 million to $50 million. During the second quarter ended June 28, 2014, Dorman repurchased 158,300 shares of its common stock for $8.4 million, at an average price of $52.80 per share. During the first six months of 2014, the Company has repurchased 161,900 shares of its common stock for $8.5 million, at an average price of $52.75 per share. Subsequent to the end of the second quarter and through July 28, 2014, the Company repurchased an additional 298,700 shares of its common stock for $14.5 million, at an average price of $48.68 per share.

For earnings history and earnings-related data on Dorman Products (DORM) click here.

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