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Motorcar Parts of America fiscal Q1 profit climbs YOY

Motorcar Parts of America Inc. said its normalized net income for the fiscal first quarter ended June 30 was $4.2 million, an increase from $110,630 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 6.3% from 0.2% in the year-earlier period.

Total revenue increased 25.3% year over year to $63.0 million from $50.2 million, and total operating expenses climbed 14.6% year over year to $52.9 million from $46.1 million.

Reported net income rose from the prior-year period to $4.0 million, or 25 cents per share, from $146,100, or 1 cents per share.