Key Developments For Motorcar Parts of America, Inc.
Motorcar Parts of America, Inc. (MPAA.O) (Consolidated Issue listed on NASDAQ Global Market)
Motorcar Parts of America, Inc. Announces New Credit Facility
Motorcar Parts of America, Inc. announced it has entered into a new $45 million credit facility with Union Bank, N.A. and BB&T, replacing and supplementing a previous $40 million credit facility. The Company said it intends to utilize the credit facility for working capital, general corporate purposes and possible future acquisitions.
Motorcar Parts of America, Inc. Acquires Reliance Automotive, Inc.
Motorcar Parts of America, Inc. announced that it has completed the acquisition of certain assets of Reliance Automotive, Inc., a privately held remanufacturer of alternators and starters based in East Berlin, Connecticut. Terms were not disclosed.
Motorcar Parts of America, Inc. Updates FY 2009 Outlook Below Analysts' Estimates
Motorcar Parts of America, Inc. announced that for fiscal 2009, it expects revenues to be approximately $135 million to $140 million based on updated forecasts and anticipated timing of product shipments to several new customers. According to Reuters Estimates, analysts were expecting the Company to report revenue of $145 million for the same period.
Motorcar Parts of America, Inc. Acquires Suncoast Automotive Products Business
Motorcar Parts of America, Inc. announced that it has completed the acquisition of certain assets of Suncoast Automotive Products, Inc., a privately held company based in Pompano Beach, Florida, specifically its new and remanufactured alternators and starters operation. Terms were not disclosed.
Motorcar Parts of America, Inc. Remains On Track To Meet Prior FY 2009 Revenue Guidance
Motorcar Parts of America, Inc. announced that it remains on track to meet its fiscal 2009 net sales guidance of $150 million, including the contributions of synergistic acquisitions.
