Motorcar Parts Of America Q4 Profit From Cont. Ops. Declines On Higher Taxes

(RTTNews) - Motorcar Parts of America, Inc. (MPAA) reported that its fourth-quarter income from continuing operations decreased to $3.07 million or $0.19 per share, from $3.90 million or $0.27 per share, prior year. Net income per share was $0.19, compared to a loss of $5.08 per share, a year ago, which was impacted by the company's former discontinued undercar business. Excluding items, adjusted net income was $6.8 million, or $0.43 per share, for the quarter.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 32.1 percent to $76.7 million from $58.0 million, last year. Analysts expected revenue of $69.75 million for the quarter.

Gross profit increased to $23.92 million from $18.10 million. Operating income was $9.55 million, compared to $9.05 million, a year ago.