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Motorcar Parts of America reports developments in automotive aftermarket replacement parts and diagnostic testing equipment. The company remanufactures, manufactures and distributes alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers and related test equipment for imported and domestic passenger vehicles, light trucks and heavy-duty applications.
News commonly covers quarterly results, customer ordering trends, gross profit, cash generation, bank debt, liquidity, share repurchases, new business commitments, demand tied to aging vehicles and miles driven, and growth in Mexico and Latin America. Updates also reference the company's electric-vehicle subsidiary, which designs testing solutions for electric powertrain components, charging systems, and automotive and aerospace electrification applications.
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Motorcar Parts of America, Inc. (MPAA) reported its fiscal 2021 second quarter results with net sales of $154.7 million, up from $150.4 million year-over-year. Net income surged to $15.2 million, or $0.78 per diluted share, compared to $6.2 million a year ago. The company also generated $16.9 million in cash from operations. Despite strong performance, MPAA refrains from providing annual sales guidance due to ongoing global uncertainties. Additionally, the company is resuming its $21.3 million stock buy-back program.
Motorcar Parts of America (Nasdaq: MPAA) will release its fiscal 2021 second-quarter results on November 9, 2020. An investor conference call, led by CEO Selwyn Joffe and CFO David Lee, will be held at 10:00 a.m. Pacific Time to discuss these results and operational updates. Investors can access the call via a live audio Web broadcast or telephone, with an archive available afterward. The company is a key player in the automotive aftermarket, manufacturing and distributing various parts and testing solutions across North America and internationally.
Motorcar Parts of America, Inc. (Nasdaq:MPAA) will participate in a fireside chat on November 3, 2020, at 1:30 p.m. Eastern time during the Gabelli Funds 44th Annual Automotive Aftermarket Symposium, hosted virtually. A live audio webcast of the chat will be available on the company’s website and archived for 30 days. The company specializes in remanufacturing, manufacturing, and distributing automotive aftermarket parts, serving markets across the U.S. and Canada, with facilities in various countries.
Motorcar Parts of America (Nasdaq: MPAA) has officially started brake caliper production at its new 370,000 sq. ft. facility in Tijuana, Mexico. This marks a significant milestone for the company as it expands its product offerings. The newly manufactured brake calipers are designed to match original equipment in both fit and performance. Featuring a zinc-dichromate finish for corrosion protection and new components for enhanced reliability, these calipers aim to provide comprehensive repair solutions for the automotive aftermarket.