The Torrance, California-based company said in a press release that the boost in net sales was mainly attributable to increases in its rotating electrical business.
Shares of Motorcar Parts gained $2.39, or 12%, to $21.52 in Tuesday’s Nasdaq trading.
Adjusted net sales for the second quarter ended September 30 increased 14.5% to
“We are encouraged by our new business wins and revitalization of demand for our products at the consumer level – both of which support our optimism and expectations for continued growth,” CEO Selwyn Joffe said in a statement.
Net income for the second quarter was
The company cited customer allowances of
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