Motorcar Parts of America (MPAA) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.40. The company posted revenue of $85.41 million in the period, compared to analysts expectations of $85.22 million. The company’s revenue was down -.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Motorcar Parts of America opened for trading at $27.81 and hit $28.51 on the upside on Monday, eventually ending the session at $28.4, with a gain of 1.79% or 0.5 points. The heightened volatility saw the trading volume jump to 1,76,763 shares. Company has a market cap of $529 M.
In a different news, on Jun 24, 2016, Philip Gay (director) sold 3,000 shares at $30.35 per share price. According to the SEC, on Jun 21, 2016, Joffe Selwyn (President, CEO & Chairman) sold 75,000 shares at $30.50 per share price. On Feb 29, 2016, Duane Franklin Miller (director) sold 14,000 shares at $32.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Motorcar Parts of America Inc. (MPA) is a manufacturer remanufacturer and distributor of aftermarket automotive parts for import and domestic cars light trucks heavy duty agricultural and industrial applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES). The Company’s products include rotating electrical products such as alternators and starters; wheel hub assemblies and bearings and new brake master cylinders. Its products meet equipment manufacturer specifications. It carries over 10000 stock keeping units (SKUs) for automotive parts that are sold under its customers’ private label brand names and the Company’s Xtreme Reliance and other brand names. The Company sells its products to retail automotive chain stores including Advance AutoZone Genuine Parts (NAPA) O’Reilly and Pep Boys.