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Last $2.06 USD
Change Today -0.09 / -4.19%
Volume 9.5K
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

us auto parts network inc (PRTS) Key Developments

U.S. Auto Parts Network, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of 2015

U.S. Auto Parts Network, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. The company reported net sales of $76.462 million against $76.947 million a year ago. Loss from operations was $1.107 million against $1.939 million a year ago. Loss before income taxes was $1.369 million against $2.159 million a year ago. Net loss attributable to company was $0.775 million or $0.02 per basic and diluted share against $2.180 million or $0.07 per basic and diluted share a year ago. EBITDA was $0.840 million against $0.457 million a year ago. Adjusted EBITDA was $1.436 million against $2.189 million a year ago. Capital expenditures were $1.37 million compared with $1.20 million a year ago. The net sales decrease of 0.6% was driven by a decrease of $0.78 million, or 1.1%, in online sales partially offset by an increase in offline sales of $0.30 million, or 4.4%. The online sales decrease of 1.1% was primarily due to lower traffic and orders partially offset by increases in conversion, average order value and revenue capture. Additionally, adjusted EBITDA less CapEx remains positive at $400,000 for the quarter. For the six months, the company reported net sales of $152.850 million against $144.975 million a year ago. Loss from operations was $1.125 million against $1.444 million a year ago. Loss before income taxes was $1.737 million against $1.926 million a year ago. Net loss attributable to company was $0.835 million or $0.03 per basic and diluted share against $1.979 million or $0.06 per basic and diluted share a year ago. Net cash provided by operating activities was $6.486 million against $11.408 million a year ago. Additions to property and equipment were $3.832 million against $3.036 million a year ago. EBITDA was $2.894 million against $3.401 million a year ago. Adjusted EBITDA was $4.00 million against $5.509 million a year ago. Additionally, adjusted EBITDA less CapEx remains positive at $1.3 million year-to-date. The company anticipates gross margin for the third quarter of 2015 to be above 28% and expect to continue to improve in future quarters as private label mix increases as a percentage of sales. The company now expect full year 2015, adjusted EBITDA will be ahead of last year versus previous guidance of being around flat to slightly below last year. The company is confident with projection for 2015 and achieving single-digit sales increases on a year-over-year basis. The company anticipates that AutoMD will generate a $3 million loss in 2015, with $2 million in EBITDA and $1 million in CapEx.

U.S. Auto Parts Network, Inc. to Report Q2, 2015 Results on Aug 11, 2015

U.S. Auto Parts Network, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 11, 2015

U.S. Auto Parts Network, Inc., Q2 2015 Earnings Call, Aug 11, 2015

U.S. Auto Parts Network, Inc., Q2 2015 Earnings Call, Aug 11, 2015

Bryan P. Stevenson Resigns as Vice President, General Counsel and Corporate Secretary of U.S. Auto Parts Network, Inc., Effective May 29, 2015

U.S. Auto Parts Network, Inc. announced that Bryan P. Stevenson resigned as the Vice President, General Counsel and Corporate Secretary of the company, effective May 29, 2015.

U.S. Auto Parts Network, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 4, 2015; Provides Earnings Guidance for the Second Quarter of 2015; Provides Capital Expenditure Guidance for the Year 2015

U.S. Auto Parts Network, Inc. announced unaudited consolidated earnings results for the first quarter ended April 4, 2015. For the quarter, the company reported net loss attributable to company of $60,000 on net sales of $76,388,000 compared to net income attributable to company of $201,000 on net sales of $68,028,000 reported in the same period last year. Loss from operations was $18,000 against income from operations of $495,000 reported last year. Loss before income taxes was $368,000 against income before income taxes of $233,000 reported last year. Net cash provided by operating activities was $4,550,000 against $8,142,000 reported last year. Additions to property and equipment were $2,151,000 against $1,558,000 reported last year. EBITDA was $2,054,000 against $2,944,000 reported last year. Adjusted EBITDA was $2,564,000 against $3,320,000 reported last year. Capital expenditures (Excluding AutoMD) were $1.97 million compared with $1.14 million reported last year. For the second quarter of 2015, the company anticipates revenue growth will be the toughest comp for the year. The company also believe adjusted EBITDA, excluding AutoMD, will be slightly down to flat year-over-year, as the company reinvest back into the business, which is expected to drive customer lifetime value. CapEx, excluding AutoMD, will be around $6 million for the year 2015.

 

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