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Motorcar Parts of America profit misses consensus by 60.0% in fiscal Q4

Motorcar Parts of America Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS decreased 23.6% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.3 million, a decline of 9.1% from $3.6 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 4.7% in the year-earlier period.

Total revenue increased 9.4% on an annual basis to $83.9 million from $76.7 million, and total operating expenses grew 11.5% on an annual basis to $75.5 million from $67.8 million.

Reported net income totaled $3.0 million, or 16 cents per share, compared to $3.0 million, or 19 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 73 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.72.

EPS rose 15.7% from 63 cents in the prior year.

Normalized net income was $12.8 million, a rise of 33.0% from $9.6 million in the prior year.

Full-year total revenue grew 16.6% year over year to $301.7 million from $258.7 million, and total operating expenses rose 19.2% year over year to $268.1 million from $224.9 million.

The company said reported net income increased 77.9% on an annual basis to $11.4 million, or 65 cents per share, in the full year, from $6.4 million, or 42 cents per share.