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Motorcar Parts and Associates Inc

Motorcar Parts and Associates Inc (MPAA)

5.36
0.03
(0.56%)
At close: May 29 4:00PM
5.36
0.03
( 0.56% )
After Hours: 5:16PM

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
5.36
Bid
5.20
Ask
5.69
Volume
70,153
5.22 Day's Range 5.42
4.73 52 Week Range 10.40
Market Cap
Previous Close
5.33
Open
5.26
Last Trade
1082
@
5.33
Last Trade Time
Financial Volume
$ 373,413
VWAP
5.3228
Average Volume (3m)
80,775
Shares Outstanding
19,662,380
Dividend Yield
-
PE Ratio
-25.05
Earnings Per Share (EPS)
-0.21
Revenue
683.07M
Net Profit
-4.21M

About Motorcar Parts and Associates Inc

Motorcar Parts of America Inc is a us-based manufacturer, remanufacturer, and distributor of aftermarket automotive and light truck applications. It manufactures and distributes heavy-duty truck and industrial and agricultural application parts. It produces starter engines, alternators, hub assembli... Motorcar Parts of America Inc is a us-based manufacturer, remanufacturer, and distributor of aftermarket automotive and light truck applications. It manufactures and distributes heavy-duty truck and industrial and agricultural application parts. It produces starter engines, alternators, hub assemblies, bearings, and master cylinders. The company supplies its products to the automotive aftermarket either under its own brands, as part of a private-label service, or to warranty replacement programs of automobile manufacturers. It primarily sells rotating electrical products, wheel hub products, brake master cylinders products in the us, of which a majority of the revenue is derived from the sales of rotating electrical products. Show more

Sector
Motor Vehicle Part,accessory
Industry
Misc Elec Machy,eq,supplies
Headquarters
Torrance, California, USA
Founded
2013
Motorcar Parts and Associates Inc is listed in the Motor Vehicle Part,accessory sector of the NASDAQ with ticker MPAA. The last closing price for Motorcar Parts and Assoc... was $5.33. Over the last year, Motorcar Parts and Assoc... shares have traded in a share price range of $ 4.73 to $ 10.40.

Motorcar Parts and Assoc... currently has 19,662,380 shares outstanding. The market capitalization of Motorcar Parts and Assoc... is $105.39 million. Motorcar Parts and Assoc... has a price to earnings ratio (PE ratio) of -25.05.

MPAA Latest News

Motorcar Parts of America to Ring Nasdaq Closing Bell

Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced Selwyn Joffe, the company’s chairman, president and chief executive officer, and senior members of its leadership team will preside...

Motorcar Parts of America Introduces Additional Quality-Built Brake-Related Product Part Numbers to Catalog

Motorcar Parts of America Inc.(Nasdaq: MPAA) today announced it has introduced expanded product coverage for its Quality-Built brake pad and brake rotor program, with more than 20 new part...

Motorcar Parts of America Reports Results for Fiscal Third Quarter and Nine Months

– Record Sales for Nine Months; Operating Income Up Sharply; Strong Cash Flow – Motorcar Parts of America, Inc. (Nasdaq: MPAA) today reported results for its fiscal 2024 third quarter and...

Motorcar Parts of America to Report Fiscal 2024 Third Quarter Results; Host Conference Call

Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the company will issue results for its fiscal 2024 third quarter on Friday, February 9, 2024. Selwyn Joffe, chairman, president and...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.5110.51546391754.855.424.731379175.17180148CS
4-0.35-6.12959719795.715.874.731189235.14121285CS
12-3.66-40.57649667419.029.084.73807755.94055252CS
26-4.39-45.02564102569.7510.44.73771157.6495795CS
52-1.05-16.38065522626.4110.44.731343397.56936217CS
156-18.36-77.403035413223.7225.684.2611944210.69474387CS
260-13.46-71.519659936218.8226.424.2611608913.42617384CS

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MPAA Discussion

View Posts
TFMG TFMG 4 years ago


$MPAA | #MotorcarPartsOfAmerica Risky Long



Possible earnings trade setup.
Stock has reclaimed the 200ma as support.
50MA is also rising as support.
Major downtrend break possible.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.


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whytestocks whytestocks 5 years ago
News: $MPAA Motorcar Parts of America Reports Record Sales for Quarter and Fiscal Year

-- Fiscal 2020 Expected to Benefit from Multi-Product Line Expansion and  Investment Initiatives from Past Few Years -- LOS ANGELES, June 28, 2019 (GLOBE NEWSWIRE) -- Motorcar Parts of America, Inc. ( Nasdaq: MPAA ) today announced fiscal 2019 fourth quarter and year-end results, ...

Find out more https://marketwirenews.com/news-releases/motorcar-parts-of-america-reports-record-sales-for-quarter-and--8429804.html
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ValueInvestor15 ValueInvestor15 7 years ago
5 Manufacturing Stocks with 25% Upside Potential: MPAA

Full Analysis
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ValueInvestor15 ValueInvestor15 8 years ago
Value investors may want to grab Motocar $MPAA while at 52-week low. Almost 30% upside here: analysis
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Andco Andco 9 years ago
Looks bottomed IMO. Started a position today.
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Penny Roger$ Penny Roger$ 12 years ago
~ $MPAA ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $MPAA ~ Earnings expected on Wednesday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=MPAA&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=MPAA&p=W&b=3&g=0&id=p54550695994



~ Barchart: http://barchart.com/quotes/stocks/MPAA?
~ OTC Markets: http://www.otcmarkets.com/stock/MPAA/company-info
~ Google Finance: http://www.google.com/finance?q=MPAA
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=MPAA#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=MPAA+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=MPAA
Finviz: http://finviz.com/quote.ashx?t=MPAA
~ BusyStock: http://busystock.com/i.php?s=MPAA&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=MPAA&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=MPAA
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=MPAA
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=MPAA
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=MPAA
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=MPAA
~ MarketWatch: http://www.marketwatch.com/investing/stock/MPAA/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=MPAA
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=MPAA
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=MPAA&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=MPAA&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=MPAA&size=l&frequency=60&color=g


http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.
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littlefish littlefish 12 years ago
I agree it is getting down there in price. Starting to look like they overspent by a fair margin making the acquisition. Like you, I'm just watching.

I hate rentals but when you can get 10% or so+ return from rents (and that's at 10 months a year) when paying 100% for home, I tend to put up with the headaches. Only looking at foreclosures around here (very competitive bTW, lots of buyers out there last few months). The other stuff is too high priced to make the #s work well as rnetals.
Any appreciation is great, but in the meantime it is a cash generator at 10%+ annually. If you get leverage with home loan 20% or more down, the leverage numbers get better % return on up front money but you lose some money from fees and such with a loan origination, appraisal, etc.
If homes go up in price it's great, if they go down then I hope they go down less than 8% or so a year to keep the net worth level. Anyhow, I'm tolerant enough to do something I don't like if it pays well enough (at least for a little while)

Give it a year or two and I will probably be complaining loudly about rentals and wanting to go back to microcap/stock investing cuz less headache LOL. Good luck!

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ghmm ghmm 12 years ago
Yeah I am just watching it for now too. The price caught my eye and I started looking and realized there are enough issues to keep on the sidelines for now. At the right price (much lower) though I think I'd be tempted of course it depends on what the company looks like at that price .

My wife and I are looking to buy real estate too but not primarily for investment. I've noticed a mix of deals and unrealistic sellers. Don't know that I would want the headaches of rental property, I'm sure with your value approach you should do well in it.

Best, m
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littlefish littlefish 12 years ago
The deal certainly increased their footprint but looked like they sorely underestimated the inherent probs that may come from a merger/buyout short term and overestimated the revs.
CEO mentioned all the 'synergies' they should enjoy going forward but I am pretty cautious on this one at this point mainly because of the revs shortfall (not to mention margins deterioration).

The recent financing on the surface doesn't look like they got the best interest rates in the world on the term loan given great interest rate environment and maybe hints at some of the risk to their model with the acquisition weight on the balance sheet. but at least interest rates remain low for now.

I haven't dug into it in awhile though and don't have a position right now.

Mostly concentrating on rental real estate right now. Good luck!
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ghmm ghmm 12 years ago
Saw they are having problems with their acquisition getting the accounting to US standards. Looks like delisting and always a worry if hiding something. They always seemed to be building inventory instead of cash flow. Saw Royce was over 10% just few months ago and quickly dropped to around 5%. My guess it could get a lot lower still.
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ghmm ghmm 12 years ago
I am thinking to start looking at the company again. Anyone keep up with them and the deal they did? Have to see how much Marks owns too.
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littlefish littlefish 13 years ago
4 or 5 months? Been almost a year for me :) Maybe that conference thing went well or something (darn coulda listened to it live oh well), I'll have to look but didn't see any specific news on this nice breakout.

Hope you are doing well, I spend less time posting these days but doing well.
Still holding some cuz I didn't sell any of the shares in the taxable account. Just sold the last in tax free account yesterday (oops- only a few shares though).
Tomorrow is one year for half those taxable shares, long term gains yay. They'll be sold if this is over $14 :) The other shares come available over next couple weeks and will probably sell some of those too but keep a little to follow the progress of company.

Looks like I actually prognosticated correctly on MPAA for 2010 (oh, and EGMI too doh):

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45805587

BTW, I did not make it to 20% return last year for the first time (even with the nice market) thanks mostly to AYSI but managed a gain so won't compalin. But I broke the 'make 20% per year' rule so as one 'penalty' don't get to spend as much time playing on the message boards. Not a bad thing really. Get more time with the little one :) Maybe miss a few opportunities, oh well.

Send an E-Mail some time and hope you and your family have a great 2011!
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ghmm ghmm 13 years ago
Don't know if anyone is here these days but if anyone is interested the company has a presentation today

http://www.wsw.com/webcast/cowen/mpaa

The shareholder meeting is also scheduled for Friday.


After all my complaining about Joffe the past 4-5 months or so the stock has been on a tear so I've kept my mouth shut . I do want to thank Gilead for pointing this one out and wish i-hub didn't offend him so he'd still post some ideas. Oh and I wish I would have felt better about things to buy more a year ago .
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MikeDDKing MikeDDKing 14 years ago
Motorcar Parts of America Reports Record Fiscal 2011 Second Quarter Results
Operating Income Jumps 42 Percent on Strong Sales
On Monday November 8, 2010, 8:00 am EST

LOS ANGELES, Nov. 8, 2010 (GLOBE NEWSWIRE) -- Motorcar Parts of America, Inc. (Nasdaq:MPAA - News) today reported record results for its fiscal 2011 second quarter and six months ended September 30, 2010.

Net income for the fiscal 2011 second quarter increased to $3.5 million, or $0.29 per diluted share, compared with net income of $3.4 million, or $0.28 per diluted share, for the comparable period a year earlier. Results for the same period a year earlier included a $1.3 million, or $0.07 per diluted share, gain related to the company's acquisition of certain assets of Reliance Automotive in August 2009.

Net sales for the fiscal 2011 second quarter increased to $41.0 million from $39.4 million for the same period last year.

Gross profit for the fiscal 2011 second quarter was $12.7 million compared with $10.8 million for the same period a year ago. Gross profit as a percentage of net sales for the fiscal 2011 second quarter was 30.9 percent compared with 27.4 percent in the same quarter a year ago.

Operating income for the fiscal second quarter increased 42 percent to $7.5 million from $5.3 million in the same period a year ago.

Net income for the fiscal 2011 six-month period increased 30.0 percent to $6.0 million, or $0.49 per diluted share, from $4.6 million, or $0.38 per diluted share, a year earlier. Net sales increased seven percent to $77.2 million from $72.1 million in the corresponding period a year ago.

Gross profit for the fiscal 2011 six-months was $24.2 million compared with $18.0 million in the same period in fiscal 2011. Gross profit as a percentage of net sales for the same period was 31.4 percent compared with 24.9 percent a year earlier.

Operating income for the six months was $12.9 million compared with $8.3 million for the same period in fiscal 2010.

"The company's fiscal second quarter results reflect continued solid growth in our business and strong operating performance, supported by positive automotive aftermarket dynamics and strong industry momentum. Equally important, our team has been able to capitalize on these positive trends and execute on the company's healthy business model to achieve our goals," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts.

Teleconference and Web Cast

Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call today at 10:00 a.m. Pacific time to discuss the company's financial results and operations for its fiscal 2011 second quarter. The call will be open to all interested investors either through a live audio Web broadcast at www.motorcarparts.com or live by calling (877)-776-4016 (domestic) or (973)-638-3231 (international). For those who are not available to listen to the live broadcast, the call will be archived for seven days on Motorcar Parts of America's website. A telephone playback of the conference call will also be available from approximately 1:00 p.m. Pacific time on Monday, November 8, 2010 through 8:59 p.m. Pacific time on Sunday, November 14, 2010 by calling (800)-642-1687 (domestic) or (706)-645-9291 (international) and using access code: 16370843.

About Motorcar Parts of America

Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters utilized in imported and domestic passenger vehicles, light trucks and heavy duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with remanufacturing facilities located in California, Mexico and Malaysia, and administrative offices located in California, Tennessee, Mexico, Singapore and Malaysia. Additional information is available at www.motorcarparts.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2010 and in its Form 10-Q filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

(Financial tables follow)

MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited)






Three Months Ended
September 30, Six Months Ended
September 30,
2010 2009 2010 2009





Net sales $ 40,977,000 $ 39,437,000 $ 77,211,000 $ 72,127,000
Cost of goods sold 28,295,000 28,621,000 52,984,000 54,140,000
Gross profit 12,682,000 10,816,000 24,227,000 17,987,000
Operating expenses:



General and administrative 3,571,000 3,653,000 7,595,000 6,165,000
Sales and marketing 1,201,000 1,535,000 2,941,000 2,807,000
Research and development 396,000 334,000 762,000 668,000
Total operating expenses 5,168,000 5,522,000 11,298,000 9,640,000
Operating income 7,514,000 5,294,000 12,929,000 8,347,000
Other expense (income):



Gain on acquisition -- (1,331,000) -- (1,331,000)
Interest expense -- net 1,701,000 974,000 3,303,000 1,970,000
Income before income tax expense 5,813,000 5,651,000 9,626,000 7,708,000
Income tax expense 2,312,000 2,216,000 3,605,000 3,078,000





Net income $ 3,501,000 $ 3,435,000 $ 6,021,000 $ 4,630,000





Basic net income per share $ 0.29 $ 0.29 $ 0.50 $ 0.39





Diluted net income per share $ 0.29 $ 0.28 $ 0.49 $ 0.38





Weighted average number of shares outstanding:



Basic 12,038,636 11,973,510 12,043,818 11,967,797





Diluted 12,202,507 12,101,997 12,220,257 12,086,298


MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Balance Sheets




September 30, 2010 March 31, 2010
ASSETS (Unaudited)
Current assets:

Cash $ 5,815,000 $ 1,210,000
Short-term investments 265,000 451,000
Accounts receivable -- net -- 5,553,000
Inventory-- net 27,773,000 31,547,000
Inventory unreturned 4,366,000 3,924,000
Deferred income taxes 8,455,000 8,391,000
Prepaid expenses and other current assets 1,928,000 2,735,000
Total current assets 48,602,000 53,811,000
Plant and equipment -- net 11,563,000 12,693,000
Long-term core inventory -- net 76,302,000 67,957,000
Long-term core inventory deposit 25,984,000 25,768,000
Long-term deferred income taxes 722,000 951,000
Long-term note receivable 1,894,000 --
Intangible assets -- net 5,917,000 6,304,000
Other assets 1,660,000 1,549,000
TOTAL ASSETS $ 172,644,000 $ 169,033,000
LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 30,190,000 $ 31,603,000
Accrued liabilities 3,134,000 1,863,000
Accrued salaries and wages 2,574,000 3,590,000
Accrued workers' compensation claims 1,350,000 1,574,000
Customer finished goods returns accrual 6,696,000 7,454,000
Income tax payable 535,000 678,000
Other current liabilities 478,000 697,000
Current portion of term loan 2,000,000 2,000,000
Current portion of capital lease obligations 308,000 953,000
Total current liabilities 47,265,000 50,412,000
Term loan, less current portion 6,500,000 7,500,000
Deferred core revenue 7,738,000 6,061,000
Deferred gain on sale-leaseback 58,000 319,000
Other liabilities 639,000 676,000
Capital lease obligations, less current portion 304,000 445,000
Total liabilities 62,504,000 65,413,000
Commitments and contingencies

Shareholders' equity:

Preferred stock; par value $.01 per share, 5,000,000 shares authorized; none issued -- --
Series A junior participating preferred stock; par value $.01 per share, 20,000 shares authorized; none issued -- --
Common stock; par value $.01 per share, 20,000,000 shares authorized; 12,052,271 and 12,026,021 shares issued and outstanding at September 30, 2010 and March 31, 2010, respectively 121,000 120,000
Treasury stock, at cost, 14,400 shares of common stock at September 30, 2010 and none at March 31, 2010 (89,000) --
Additional paid-in capital 92,934,000 92,792,000
Additional paid-in capital-warrant 1,879,000 1,879,000
Accumulated other comprehensive loss (981,000) (1,426,000)
Retained earnings 16,276,000 10,255,000
Total shareholders' equity 110,140,000 103,620,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 172,644,000 $ 169,033,000

Contact:

Maier & Company, Inc.
Gary S. Maier
(310) 442-9852
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MikeDDKing MikeDDKing 14 years ago
Bullish report by MPAA customer...

ORLY had a very good report last night and is up $2.60 to $57 today. They reported adjusted EPS of $0.86 vs. expectations of $0.74. Also, they guided for FY10 adjusted EPS of $2.94-$2.98 vs. a consensus of $2.87. O'Reilly Automotive is a customer of MPAA.
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MikeDDKing MikeDDKing 14 years ago
MPAA is flirting with a new two year high at the current price of $9.85. The two year high is $9.89.
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Rawnoc Rawnoc 14 years ago
MPAA is printing fresh 2 year highs as I type, WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!
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Rawnoc Rawnoc 14 years ago
Very cool!
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MikeDDKing MikeDDKing 14 years ago
MPAA - Roth Capital made some comments on the Fenwick Acquisition regarding the potential to double MPAA revenue if Fenwick is acquired by MPAA. That isn't anything new but I find it interesting that Roth Capital is commenting now. Roth is maintaining their buy rating. I don't have a copy of the Roth comments but my news service had a short blurb about it.
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Rawnoc Rawnoc 14 years ago
MPAA printing fresh, 2 year highs as I type, WEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!
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MikeDDKing MikeDDKing 14 years ago
MPAA printed a new 52 week high of $7.96!
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MikeDDKing MikeDDKing 14 years ago
MPAA was upgraded to Buy from Hold by BB&T. They have a price target of $12.
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Hairy Calls Hairy Calls 14 years ago
must have had a commish free trade and needed a pack of smokes
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Rawnoc Rawnoc 14 years ago
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!!!!
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Hairy Calls Hairy Calls 14 years ago
nice 1 share trade went off at 7.07...lol
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MikeDDKing MikeDDKing 14 years ago
Motorcar Parts of America Announces Strategic Investment in Toronto-Based Automotive Parts Supplier
Opportunity for Future Acquisition and Product-Line Expansion
On Monday August 30, 2010, 1:07 pm

LOS ANGELES, Aug. 30, 2010 (GLOBE NEWSWIRE) -- Motorcar Parts of America, Inc. (Nasdaq:MPAA - News) today announced it has made a US$1.9 million (CDN$2.0 million) strategic investment in Fenwick Automotive Products Limited structured as a secured loan with an option to acquire substantial ownership of the company.

"This transaction represents a potential opportunity to expand beyond Motorcar Parts of America's alternator and starter business and leverage our company's existing manufacturing expertise and distribution channels with a broad array of automotive products. A major benefit of the transaction is the option to acquire a substantial portion of Fenwick Automotive and likely more than double Motorcar Parts of America's annual revenues with expected accretive earnings," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.

"We are proud to be associated with Fenwick Automotive, a company that has been one of the finest and most respected suppliers to the aftermarket industry for more than sixty years," Joffe added.

He noted that the two organizations serve all of the major automotive aftermarket sales channels.

"We are pleased to be working with an organization with the market presence and reputation of Motorcar Parts and look forward to working with the company's team," said Gordon Fenwick, chief executive officer of Fenwick Automotive Products.

He noted that Motorcar Parts and Fenwick are both customer-centric organizations, ISO/TS16949 registered, and recognized for the highest level of quality and service.

About Fenwick Automotive Products Limited

Based in Toronto, Canada, Fenwick Automotive Products Limited is a manufacturer and distributor of new and remanufactured aftermarket auto parts -- including steering components (pumps, gears and racks), brake calipers, master cylinders, hub assembly and bearings, clutches and clutch hydraulics, constant velocity drive shafts, water pumps, control arms and loaded struts for the full range of passenger and truck vehicles in use in the markets it serves. Its products are sold through all major distribution channels of the automotive aftermarket throughout the United States, Canada and Mexico. The company's facilities are located in Pennsylvania, New Hampshire, Toronto and Mexico. Additional information is available at www.fencoparts.com

About Motorcar Parts of America

Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters for imported and domestic passenger vehicles, light trucks and heavy duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada. The company's facilities are located in California, Tennessee, Mexico, Malaysia and Singapore. Additional information is available at www.motorcarparts.com

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2010 and in its Form 10-Q filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

Contact:

Maier & Company, Inc.
Gary S. Maier
(310) 442-9852
👍️0
MikeDDKing MikeDDKing 14 years ago
MPAA is mentioned in this article...

http://seekingalpha.com/article/221118-top-10-stock-dividend-yields-lowest-price-to-sales-and-price-to-book-ratios?source=feed
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MikeDDKing MikeDDKing 14 years ago
Nice move today!
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Rawnoc Rawnoc 14 years ago
Greenage.
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littlefish littlefish 14 years ago
Mike- I'm sure you'll do good job as mod, you'll probably spruce up the place. I don't know how to resign as assistant but feel free to do it for me I'm not active here.
Good luck.
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MikeDDKing MikeDDKing 14 years ago
I added more shares today.
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MikeDDKing MikeDDKing 14 years ago
Motorcar Parts of America Reports Fiscal 2010 Fourth Quarter/Year-End Results
Sales Climb 29 Percent for Quarter; Net Income Up Sharply for Year
On Monday June 14, 2010, 8:00 am EDT

LOS ANGELES, June 14, 2010 (GLOBE NEWSWIRE) -- Motorcar Parts of America, Inc. (Nasdaq:MPAA - News) today reported strong results for its year ended March 31, 2010, reflecting record fourth quarter and full-year sales and a significant jump in net income for fiscal 2010.

Net sales for the fiscal 2010 fourth quarter were $38.6 million, compared with $29.9 million for the same period last year.

Gross profit for the fiscal 2010 fourth quarter was $12.5 million (or 32% gross margin), compared with $6.0 million (or 20% gross margin) for the same period a year ago.

Operating income for the fiscal fourth quarter climbed to $4.8 million, from an operating loss of $680,000 in the same period a year ago.

Net income for the fiscal 2010 fourth quarter was $2.9 million, or $0.24 per diluted share, compared with a net loss of $1.2 million, or $0.10 per share, for the comparable period a year earlier.

Net sales for fiscal 2010 climbed 9.2 percent to a record $147.2 million, compared with $134.9 million a year ago. Gross profit for fiscal 2010 was $41.3 million, compared with $39.5 million a year earlier, with a gross margin of 28 percent compared with 29 percent in fiscal 2009.

Operating income for fiscal 2010 was $18.3 million, compared with $10.6 million a year earlier.

Net income for fiscal 2010 climbed to $9.6 million, or $0.80 per diluted share, compared with $3.9 million, or $0.32 per diluted share, a year ago.

"Our record sales for fiscal 2010 reflect our ability to build strong long-term relationships with leading automotive retailers and the professional market," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts.

Joffe noted that "our performance for the quarter validates our belief that as we continue to grow market share, operating performance is enhanced with very little incremental expenditure. As we enter a new fiscal year, operating leverage and increased usage of available production capacity continue to be important strategic components of the company's year-over-year growth plans -- supported by organic sales increases and acquisitions at appropriate valuations," Joffe added.

Teleconference and Web Cast

Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call today at 10:00 a.m. Pacific Time to discuss the company's financial results and operations for fiscal 2010. The call will be open to all interested investors either through a live audio Web broadcast at www.motorcarparts.com or live by calling (877)-776-4016 (domestic) or (973)-638-3231 (international). For those who are not available to listen to the live broadcast, the call will be archived for seven days on Motorcar Parts of America's website. A telephone playback of the conference call will also be available from approximately 1:00 p.m. Pacific Time today through 8:59 p.m. Pacific Time on Monday, June 21, 2010 by calling (800)-642-1687 (domestic) or (706)-645-9291 (international) and using access code: 75655489.

About Motorcar Parts of America

Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters utilized in imported and domestic passenger vehicles, light trucks and heavy duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with remanufacturing facilities located in California, Mexico and Malaysia, and administrative offices located in California, Tennessee, Mexico, Singapore and Malaysia. Additional information is available at www.motorcarparts.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2010 and in its Form 10-Qs filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

(Financial tables follow)


MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Statements of Operations






Three Months Ended
March 31, Year Ended
March 31,
2010 2009 2010 2009

(Unaudited) (Unaudited)






Net sales $ 38,616,000 $ 29,922,000 $ 147,225,000 $ 134,866,000
Cost of goods sold 26,153,000 23,891,000 105,898,000 95,319,000
Gross profit 12,463,000 6,031,000 41,327,000 39,547,000
Operating expenses:



General and administrative 5,614,000 4,845,000 15,580,000 19,479,000
Sales and marketing 1,664,000 1,331,000 6,019,000 5,242,000
Research and development 398,000 435,000 1,421,000 1,993,000
Impairment of goodwill -- 100,000 -- 2,191,000
Total operating expenses 7,676,000 6,711,000 23,020,000 28,905,000
Operating income (loss) 4,787,000 (680,000) 18,307,000 10,642,000
Other expense (income):



Gain on acquisition -- -- (1,331,000) --
Interest expense 964,000 1,027,000 4,710,000 4,215,000
Interest income -- -- -- (19,000)
Income (loss) before income tax expense (benefit) 3,823,000 (1,707,000) 14,928,000 6,446,000
Income tax expense (benefit) 952,000 (526,000) 5,282,000 2,589,000





Net income (loss) $ 2,871,000 $ (1,181,000) $ 9,646,000 $ 3,857,000
Basic net income (loss) per share $ 0.24 $ (0.10) $ 0.80 $ 0.32
Diluted net income (loss) per share $ 0.24 $ (0.10) $ 0.80 $ 0.32





Weighted average number of shares outstanding:



Basic 12,023,688 11,962,021 11,988,692 11,995,622
Diluted 12,156,354 11,962,021 12,116,615 12,086,126



MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
March 31,

2010 2009
ASSETS

Current assets:

Cash $ 1,210,000 $ 452,000
Short-term investments 451,000 335,000
Accounts receivable -- net -- 11,121,000
Inventory-- net 31,547,000 27,923,000
Inventory unreturned 3,924,000 4,708,000
Deferred income taxes 8,391,000 8,277,000
Prepaid expenses and other current assets 2,735,000 1,355,000
Total current assets 48,258,000 54,171,000
Plant and equipment -- net 12,693,000 13,997,000
Long-term core inventory 67,957,000 62,821,000
Long-term core inventory deposit 25,768,000 24,451,000
Long-term deferred income taxes 951,000 989,000
Intangible assets -- net 6,304,000 2,564,000
Other assets 1,549,000 595,000
TOTAL ASSETS $ 163,480,000 $ 159,588,000
LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 31,603,000 $ 24,507,000
Accrued liabilities 3,764,000 1,451,000
Accrued salaries and wages 3,590,000 3,162,000
Accrued workers' compensation claims 1,574,000 1,895,000
Income tax payable 678,000 1,158,000
Note payable -- 722,000
Revolving loan -- 21,600,000
Other current liabilities 697,000 1,624,000
Current portion of term loan 2,000,000 --
Current portion of capital lease obligations 953,000 1,621,000
Total current liabilities 44,859,000 57,740,000
Term loan, less current portion 7,500,000 --
Deferred core revenue 6,061,000 5,934,000
Deferred gain on sale-leaseback 319,000 843,000
Other liabilities 676,000 587,000
Capital lease obligations, less current portion 445,000 1,401,000
Total liabilities 59,860,000 66,505,000
Commitments and contingencies

Shareholders' equity:

Preferred stock; par value $.01 per share, 5,000,000 shares authorized; none issued -- --
Series A junior participating preferred stock; par value $.01 per share, 20,000 shares authorized; none issued -- --
Common stock; par value $.01 per share, 20,000,000 shares authorized; 12,026,021 and 11,962,021 shares issued and outstanding at March 31, 2010 and 2009, respectively 120,000 120,000
Additional paid-in capital 92,792,000 92,459,000
Additional paid-in capital-warrant 1,879,000 1,879,000
Accumulated other comprehensive loss (1,426,000) (1,984,000)
Retained earnings 10,255,000 609,000
Total shareholders' equity 103,620,000 93,083,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 163,480,000 $ 159,588,000


Contact:

Maier & Company, Inc.
Gary S. Maier
(310) 442-9852
👍️0
MikeDDKing MikeDDKing 14 years ago
Motorcar Parts of America Reports Strong Fiscal 2011 First Quarter Results
Net Income More Than Doubles; Sales Climb
On Monday August 9, 2010, 8:00 am EDT

LOS ANGELES, Aug. 9, 2010 (GLOBE NEWSWIRE) -- Motorcar Parts of America, Inc. (Nasdaq:MPAA - News) today reported strong results for its fiscal 2011 first quarter ended June 30, 2010, reflecting increased sales and improved productivity.

Net income for the fiscal 2011 first quarter climbed sharply to $2.5 million, or $0.21 per diluted share, compared with net income of $1.2 million, or $0.10 per diluted share, for the comparable period a year earlier.

Net sales for the fiscal 2011 first quarter increased 10.8 percent to $36.2 million from $32.7 million for the same period last year.

Gross profit for the fiscal 2011 first quarter was $11.5 million compared with $7.2 million for the same period a year ago.

Operating income for the fiscal first quarter climbed 77.4 percent to $5.4 million from $3.1 million in the same period a year ago.

General and administrative expenses were negatively impacted by a $471,000 non-cash loss as a result of negative foreign currency fluctuations in the fiscal 2011 first quarter. The company benefitted in the same period a year earlier as a result of a non-cash gain in foreign currency fluctuations of $964,000.

"The 2011 fiscal year is off to an excellent start, with strong sales momentum and solid profitability as the company continues to focus on operating leverage and increased usage of available capacity," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts.

Teleconference and Web Cast

Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call today at 9:00 a.m. Pacific time to discuss the company's financial results and operations for its fiscal 2011 first quarter. The call will be open to all interested investors either through a live audio Web broadcast at www.motorcarparts.com or live by calling (877)-776-4016 (domestic) or (973)-638-3231 (international). For those who are not available to listen to the live broadcast, the call will be archived for seven days on Motorcar Parts of America's website. A telephone playback of the conference call will also be available from approximately 12:00 noon Pacific time today through 8:59 p.m. Pacific time on Monday, August 16, 2010 by calling (800)-642-1687 (domestic) or (706)-645-9291 (international) and using access code: 90707301.

About Motorcar Parts of America

Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters utilized in imported and domestic passenger vehicles, light trucks and heavy duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with remanufacturing facilities located in California, Mexico and Malaysia, and administrative offices located in California, Tennessee, Mexico, Singapore and Malaysia. Additional information is available at www.motorcarparts.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2010 and in its Form 10-Q filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited)





Three Months Ended

June 30,
2010 2009



Net sales $ 36,234,000 $ 32,690,000
Cost of goods sold 24,689,000 25,519,000
Gross profit 11,545,000 7,171,000
Operating expenses:

General and administrative 4,024,000 2,512,000
Sales and marketing 1,740,000 1,272,000
Research and development 366,000 334,000
Total operating expenses 6,130,000 4,118,000
Operating income 5,415,000 3,053,000
Other expense:

Interest expense 1,602,000 996,000
Income before income tax expense 3,813,000 2,057,000
Income tax expense 1,293,000 862,000
Net income $ 2,520,000 $ 1,195,000
Basic net income per share $ 0.21 $ 0.10
Diluted net income per share $ 0.21 $ 0.10
Weighted average number of shares outstanding:

Basic 12,049,057 11,962,021
Diluted 12,204,319 12,071,451







MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Balance Sheets





June 30, 2010 March 31, 2010
ASSETS (Unaudited)
Current assets:

Cash $ 1,759,000 $ 1,210,000
Short-term investments 232,000 451,000
Accounts receivable -- net 3,267,000 5,553,000
Inventory-- net 30,018,000 31,547,000
Inventory unreturned 4,664,000 3,924,000
Deferred income taxes 8,436,000 8,391,000
Prepaid expenses and other current assets 1,906,000 2,735,000
Total current assets 50,282,000 53,811,000
Plant and equipment -- net 11,879,000 12,693,000
Long-term core inventory 70,646,000 67,957,000
Long-term core inventory deposit 25,768,000 25,768,000
Long-term deferred income taxes 720,000 951,000
Intangible assets -- net 6,110,000 6,304,000
Other assets 1,604,000 1,549,000
TOTAL ASSETS $ 167,009,000 $ 169,033,000
LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 27,185,000 $ 31,603,000
Accrued liabilities 1,377,000 1,863,000
Accrued salaries and wages 2,423,000 3,590,000
Accrued workers' compensation claims 1,435,000 1,574,000
Customer finished goods returns accrual 7,481,000 7,454,000
Income tax payable 1,624,000 678,000
Revolving loan 1,800,000 --
Other current liabilities 468,000 697,000
Current portion of term loan 2,000,000 2,000,000
Current portion of capital lease obligations 580,000 953,000
Total current liabilities 46,373,000 50,412,000
Term loan, less current portion 7,000,000 7,500,000
Deferred core revenue 6,197,000 6,061,000
Deferred gain on sale-leaseback 188,000 319,000
Other liabilities 607,000 676,000
Capital lease obligations, less current portion 365,000 445,000
Total liabilities 60,730,000 65,413,000
Commitments and contingencies

Shareholders' equity:

Preferred stock; par value $.01 per share, 5,000,000 shares authorized; none issued -- --
Series A junior participating preferred stock; par value $.01 per share,
20,000 shares authorized; none issued -- --
Common stock; par value $.01 per share, 20,000,000 shares authorized;
12,052,271 and 12,026,021 shares issued and outstanding at June 30, 2010
and March, 31 2010, respectively 121,000 120,000
Additional paid-in capital 92,926,000 92,792,000
Additional paid-in capital-warrant 1,879,000 1,879,000
Accumulated other comprehensive loss (1,422,000) (1,426,000)
Retained earnings 12,775,000 10,255,000
Total shareholders' equity 106,279,000 103,620,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 167,009,000 $ 169,033,000


Contact:

Maier & Company, Inc.
Gary S. Maier
(310) 442-9852
👍️0
MikeDDKing MikeDDKing 14 years ago
I really like MPAA for the following reasons and have been accumulating:

1. MPAA is in a recession resistant business selling remanufactured starters and alternators.

2. MPAA just reported diluted EPS of $0.21 and $0.25 excluding one-time items. They also made $0.90 in the trailing 12 months. They are cheap on any metric of trailing earnings.

3. MPAA is expecting to grow revenue for the remainder of the fiscal year. They should continue to grow earnings based upon increased revenue.

4. One of their one-time items this quarter was an inventory write-down. Inventory was written down because they decreased manufacturing costs. Thus a one-time item this quarter should result in higher gross margin going forward.

5. They are trading at a discount to their book value of $8.82.

6. They are entering one of their seasonally stronger quarters.
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littlefish littlefish 14 years ago
Ah the insider bassturds. The VP guy didn't even try to keep a few of those options shares LOL.

Re Gilead actually I'm just trying to get Gilead to go 'free,' not quit.
Maybe he felt overinspired, feeling the recent freedom of quitting his 'regular' job so decided to try it on something like message board posting on IHub?

Or maybe it was just some squadoosh head pissing him off for something possibly relatively trivial that had him make a stand on principles?
He tends to stand on principles. Maybe one of them swatted him too hard in grade school so he gets back at 'em when he can?
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ghmm ghmm 14 years ago
Those insider sales the past two days don't exactly install confidence, especially a sales VP!

Hey what did you say to gilead to get him to quit . Too bad if he goes one of the better posts and a nice touch of sarcasm too.
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littlefish littlefish 14 years ago
I'm actually happy to see the more conservative stance if Joffe keeps it up and is fairly accurate with the somewhat subjective terminology often used in forecasting.
I'd rather have someone talking things down than talking them up. And of course just plain stating things as they are w/o sugar is better yet
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ghmm ghmm 14 years ago
Yeah I can't complain... Well shouldn't but I do . I think Joffee scared me from making it too big a position but agree while it may not have 10 bagger or even 5 bagger potential there is still descent upside especially if Joffee starts trying to make real money instead of build his (as gilead says F. S.) empire.
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littlefish littlefish 14 years ago
I don't know but at least we are still moving up

Not gonna set the world on fire IMO with current biz model but still think we could see some further upside here. Kinda happy to see we did not drop back after earnings (yet) with the semiconservative view Joffe had about next Q. He seems to be acting a little more conservative lately on projections and such IMO.
Now if only some of the mngmnt compensation became more conservative and tied to share price
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ghmm ghmm 14 years ago
I never do well trying to time a stock either...

I sold CTIB a bit ago thinking its getting ahead of itself that was about 30% ago.

I usually like to hold and get the lt cap gains tax rate but with the markets as they are I thought it could drop more then I could save in taxes so much for that theory

LF should be quite happy when he gets up.
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gilead23 gilead23 14 years ago
So much for my theory of the stock falling back to the low 6's

Short term prognostication is not my strong suit
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ghmm ghmm 14 years ago
Joffee buying today?
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littlefish littlefish 14 years ago
Ya fallback wouldn't surprise me unless the company feels at liberty to start buying back now that the report is out of the way. Or some fund suddenly decides to 'discover' it as a value investment. I feel pretty comfortable we are building higher-priced downside levels with time which is what I like even if upside is so-so, at least in current market conditions.

I get a little over 23 cents EPS this Q if we normalize tax rate to 40% and take out the one time charges from bad debt expense and nonpayment from renter. If any of that gets recouped we could see 1 time gains help the other way of course.

I am assuming the little verbage Joffe gave about 2011 expecting higher revs and net income YOY would NOT include buyback shares potential boost. They have yet to start buy back in the market apparently. And customers continue to do well with the macrotrends still in place (aging fleet, tuff economy so older cars likely kept on road longer and fixed instaed of replaced).
Then again, I don't rely on putting much specific weight in mangement teams giving annual guidance definitely including this team.

Considering the large sizes of accts payable, inventories, etc I still think we are a couple Qs off from seeing more cash put on the balance sheet. $500K per Q will go toward term loan repayments but beyond that could be wiggling back and forth.

In the current Q, looks like Sanford and Son would be proud.
LT inventory up $1.6 mill roughly. $500K went to pay down term loan. That's $2.1 mill of the $2.9 mill made.

Thinking we'll see lumps and bumps but the value proposition and easy understandability of the biz and what drives it is still quite apparent to me so I'll keep this as a core holding occassionally flipping a few around that probably.
OK that was pretty cheesy, even KiK is rolling his eyes.

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gilead23 gilead23 14 years ago
Too bad. I need to dig through it a bit

I am assuming we see a fall back here either way. That has been the pattern on recent spikes. The sellers come out of the woodwork. That lets me lock in profits and gives me time to sit back and evaluate the results. There are some real luxuries when your positions are small enough to be tradable.

The numbers were definitely solid though.

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littlefish littlefish 14 years ago
Don't think they did. Woulda been good for them to step thru.
I haven't had a chance to look at the balance sheet much yet. I am guessing it will take another couple Qs before we start seeing cash build on the balance sheet meaningfully with the intensive inventories they carry, unless they start ramping heavy duty even more.
The plus side of that I would think would be they'd only build a substantial amount of heavy duty inv if they get some decent wins from customers for supplying. They already carry a lot of heavy duty parts but doubt they are in large quantity. Would be a good question to ask if they'd know offhand, how much of inv is segmented toward heavy duty.
Having to house all that inventory not only at their places but also at the retail chains is a capital intensive project.
It was a decent Q though. Factoring out all the 1 times on all the Qs, this Q I think was the strongest in terms of gross profit, op income, and net earnings if we apply 40% tax rate to all #s. Revs slightly lighter than the one Q but if we're getting better operational profitability, that's OK with me.
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gilead23 gilead23 14 years ago
Did they talk about cash generation from ops?

I took a quick look at the balance sheet and concluded they didn't generate much. That is my lingering concern. Quality of earnings does not seem to be improving.
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littlefish littlefish 14 years ago
OK Joffe said they were somewhat restricted from buying back due to Q report but it is out now. They better get to putting some money up for shares.
So we need to start holding him accountable about buying back shares. Eliminate whatever excuses they may make.
Nice to see there was a $0.9+ mill expense explained in SGA one time that initially had me concerned on the SGA bumpup Q #s. That puts Op Income around $5.7 mill for the Q excluding charges, fairly healthy.
At same time, sounds like we may see a sequential drop next Q based on tone re revs but probably not too bad.

This is a good generic value play easy to understand biz model IMO and I am waiting for higher prices before selling esp w/company not yet buying back shares.
One thing seems like they should mention is the currency hedges tend to offset the inv writedowns I think.
They talk about improved GMs with inv writedowns but then don't mention a chunk of that increased efficiency is probably driven by currency (pay in pesos so cheaper labor) so you get increased GMs but then increased expenses in G&A thru currency hedge charge to balance it a bit IMO.

Wish the market would more fairly value their intangible side with customer relationships, brand names they've built up in the marketplace, customer lists, etc. Let alone their TANGIBLE book side LOL.

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ghmm ghmm 14 years ago
Looks like a very nice quarter. I didn't look through the K yet though to see if anything is hiding in there. Still hope the cc has the activists putting a little heat on Joffe.
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littlefish littlefish 14 years ago
If you are interested, could I get your E-Mail thru PM? I read many of your posts and you seem to have a similar appetite for companies I gravitate toward.
Agree with your comments on MPAA on VMC today. I have been adding though lately under $6.

Hoping if margins are another disappointment this Q (under 30%) that the CC gets a little more contentious toward mngmnt...

They need to start being more proactive in unlocking some of the 'value' in the company. I doubt they've done much more than buy back a token amount as you mention. Should know in next couple weeks one way or other when Q is reported.
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littlefish littlefish 14 years ago
Noticed this just now:

http://finance.yahoo.com/news/New-Light-Vehicle-Units-To-twst-2148353142.html?x=0&.v=2

Guess they are PR hungry LOL.
I would expect a CC announcement this week or early next.


Seems like the article is only modestly relating to MPAA's main industry segment (brief AZO mention). No mention of MPAA that I saw.
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