Motorcar Parts of America skids on quarterly loss, sales dip

Motorcar Parts of America

14/06/2022 14:24

** Shares in Motorcar Parts of America  MPAA.O  fall around
9% to $14.25 premarket 
    ** MPAA's Q4 sales fell to $163.9 mln from $168.1 mln a year
earlier, after weakness in January and February  urn:newsml:reuters.com:*:nBw4F2tqBa
    ** Q4 net loss of $332,000, or 2 cents per share, compared
with a profit of $835,000, or 4 cents per share last year
    ** Earnings hit by increased shipping rates, higher tariffs
and other supply chain-related cost pressures
    ** Expects net sales for fiscal 2023 to rise 4.6% to 7.6% 
    ** Up to Monday close, stock down around 8% so far this year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))