Motorcar Parts of America, Inc. (MPAA) Comments on Second Quarter Results and Favorable Market Conditions for Second Half
Motorcar Parts of America, Inc. (NASD: MPAA), a remanufacturer of alternators and starters utilized in imported and domestic passenger vehicles and light trucks, recently reported its financial results for the second quarter ended September 30, 2008. Quarterly net sales totaled $36.4 million compared with $33.8 million for the corresponding period last year. Net income for the quarter climbed to $2.3 million, or $0.19 per diluted share, from $466,000, or $0.04 per diluted share, for the second quarter of fiscal 2008. The company’s net sales for the fiscal 2009 second quarter totaled $36.4 million compared with $33.8 million for the same…