Fenix Parts (FENX) Reports Q1 Loss of $1.97/Share
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UPDATE -- Fenix Parts Announces First Quarter 2016 Results
June 29, 2016 8:06 AM EDTPlease note that the first bullet under the First Quarter 2016 Highlights section of the release should read "increased by 4%" not "increased by 10%" as previously stated.
The corrected release follows:
First Quarter 2016 Highlights
Net revenues increased sequentially by 9% to $32.8 million, compared to fourth quarter 2015 net revenues of $30.2 million, and increased by 4% compared to combined pro forma net revenues for the first quarter of 2015 of $31.4 millionContinued strong growth in parts sold to repair shop customers, including sales at the companies acquired in the second half of 2015 (Ocean County, Butler and... MoreFenix Parts Announces First Quarter 2016 Results
June 28, 2016 7:05 PM EDTFirst Quarter 2016 Highlights
Net revenues increased sequentially by 9% to $32.8 million, compared to fourth quarter 2015 net revenues of $30.2 million, and increased by 10% compared to combined pro forma net revenues for the first quarter of 2015 of $31.4 millionContinued strong growth in parts sold to repair shop customers, including sales at the companies acquired in the second half of 2015 (Ocean County, Butler and Tri-City)Net Loss of $41.0 million, which includes significant non-cash amortization and other charges, including a goodwill impairment charge of approximately $43.3 million initially triggered by a decline in the Companys stock priceAdjusted Operating... More