MPAA - Earnings call transcript Q4 2022 | Motorcar Parts of America, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to Motorcar Parts of America's Fiscal 2022 Fourth Quarter and Yearend Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. now to is over today's It Mr. to instructions] my turn pleasure call [Operator Relations. Investor Maier Gary Sir, go please ahead.

Gary Maier

Brent. us. you, Thank Thanks everyone for joining

XXXX the can These future begin the in release. everyone company company's that during significant provides There statements company. of differ developments I by statements, today's and publicly Financial Actual Officer, Joffe, press Chief events assurance beyond The statements. The obligation call. new no be risks the a a will uncertainties, future safe company their no of to subject harbor future Act Private Securities otherwise. are forward-looking to over those of made Litigation developments Chief on Officer; for any company's and undertakes results statements be I forward-looking company various are remind including to forward-looking based forward-looking result the from the like us. Executive Lee, and of Selwyn upon statements and Chairman, or harbor the current which turn David and today's the Reform Such statements, I'd certain and on change to may whether beliefs factors. effects revise anticipated are President safe information, based potential Before forward-looking as those some involve and in affecting of or update projected it control expectations call the statement the included concerning

Securities call to turn business, some begin various to I I'd With uncertainties detailed risks the our remarks. For filings and company's Selwyn and and our that Commission. the of prepared to discussion said, ongoing you over the Exchange like more it for a with the of refer of

Selwyn Joffe

appreciate everyone I healthy. safe all and I hope Gary. today. us you're joining you, Thank

of also growth delivered of sales despite million We achieved record this of year-over-year exceptional increase during for multi-year this industry-leading rotors,, a continued year. As successes secured company's market brand. supply the multiple line opportunities million, and built COVID several of chain XX.X%. break-related representing business We challenges XXXX, installer across than and net I serving a additional we the We $XXX.X highlight quality commitments continued under should $XXX comprehensive pads, announced and global developed new formulation the morning, utilizing fiscal the brake more brake environment. professional primarily products. an

of offerings a have We of line our in sales remanufacturing expansion new facility. the completed completion caliper multi-year additional successfully expanded We facilities programs through product brake including Mexico, Mexico. in

growth from capacity worldwide business, have up. to customers, automotive CapEx XXXX inventory, anticipated demand despite electric enabled electrical major and all with meet secured from new logistics benchtop and signed Detroit, of business liquidity Michigan supply We and our date retailers rotating We an center support the June, credit future equipment. customer our support We to chain us challenges. added testing orders in contract investment. We to testing XXXX, vehicle opened We obtain purchase facility for enhance which our May, with extended capital resources. to limited secured additional maturity

We social a our and on focus community our continued we aerospace prestigious on research automotive environmental, in opportunities institutions IEV and launch equally practices a major programs from governance tier serious global a global with basis. to important, farm enhance technology Mexico with continued one continued food an plans and and to organic agri our wins responsibility orders series and for initiatives of social

of of representing sales potential visibility, based year-over-year due fluctuation notwithstanding this enable timing fiscal a us annual All current guidance, in increase these $XX.X range top the which accomplishments reach to $XXX million to resume at is on to quarter-to-quarter year, million of estimated our orders. net

is previous our expected fiscal and Excluding expect $XX.X in increase non-economic, XXXX, amortization foreign The XX. and in lease forward amortization revaluation to million items sales of million. expenses -- development expenses, the X.X% customer be costs fiscal the $XX of mentioned million approximately and special income. items not operating $XX for between and year, core cash revenue income impacting non-economic finished impact previously goods, will the million non-cash We and and impact as non-cash be million, non-cash estimate is amortization, will approximately company year share-based in research million net does be and vehicle liabilities other operating shelves supply to expected fiscal to $XX before are COVID and expected expect are chain between not which be before Operating exchange $X be cause million. $XX of between approximately income depreciation X.X% including and non-cash does to to of related and and disruptions and of core cash and impact realized XXXX. compensation electric on related summary, contracts. $XX to $XX In and million Depreciation estimated premium the before

the some Let commentary additional about company's me progress. provide

focused opportunities annual fixed leverage would gross are our meaningful enhance which on costs. to particularly basis, We an profit on

line of expect also as be multi-year enhance note but been in and as -- levels. as we I newly have a distribution we for different launched profiles be upon as with expanded built been products. should our to should history short, gross to products electrical products gross I margin mode our have the category offerings reputation a expected In we important expected should up as art particularly our overhead -- for should note, has ramp applications. support up These benefit products gross that now break-related that will product overall be our impact particularly there should break-related the mode successfully expansion, profit rotating we break-related leverage margins, and ramp in We an expect on single program our to completed from a capacity. global focus of investment non-discretionary company's from and to multiple offering industry have state production products

the gross substantially product and Demand In without is being and existing of expect continuing. increasing our to industry we increased years recent we this all to replacement supply business launch in vehicle The brake new aftermarket are vibrant, across XX by an by parts and rotors. are overhead. and a strong standpoint. average be exceeding pads of momentum value fundamentals product for resulting will expect quality important, from enhanced a our and our the demand parts. related Break lines We is and product custom customers supported gaining are of partner enhanced age now further underlying categories matures. product your margins lines profit that grow expansion Equally summary

we serve emerging engine services decades time, combustion combustion demand Our plus the market the said, electric market traction. to growth a and vehicle address mention application we markets. expect is approximately which million product of emerging car offer internal electric for line vehicle vehicles. observers broad parts I engine vehicle and are the diagnostic testing subsidies That and opportunities industry to continues continued XXX positioned and both electric market. necessary applications functionality applications significant both At to same internal well population, for address with gain across offer combustion also to engine non-discretionary aftermarket should the

emulation, but continues of motors will for product EV speed increasing gain also battery applications, momentum, powered electric benefit station and battery market inverters, and this testing demand subsidiary. our As EV we from not charging offered only to development offerings, by high from non-discretionary

advice this customer retailer, their facing working global hard for XX,XXX calls day large automotive As industry I retail the and for the out aftermarket market. with remain to materials benefit pandemic-related our continue $X.X we also on is growth term benchtop more relationships. retailers and the are every raw our than about to chain, billion, accurate challenges. alternators consumers consumer opportunities strengthening and The previous Notwithstanding mentioned at while challenges value the earlier, headwinds, protocols returns. for supply to in benchtop This a testers enable freight, market These diagnose reduce enthusiastic and store other unnecessary roll highlighted testers starters provides offer tested these the latest and approximately near we to added problems at locations. mitigate very in

and suppliers through necessary I freight and customers, more increases providers, over detail review not collaboration price and turn are believe elaborate greater our to David David detail. results unreasonable. shortly. team we will are call Our our which logistic the our with is passing global working to in in surcharges and now we will to

David Lee

fiscal full the as I read of our good everyone. encourage to and earlier filed fourth an contains will including today. release would with year together detailed call fiscal explanations results. both Selwyn It On earnings everyone you, fiscal quarter Thank full this our our press like I results, the more to today, review morning, X-K year.

are into get our like I quarterly to not would of that I year-over-year our potential. Before indicative emphasize details, results

to stated to As it quarter we on calls, orders. quarter have experience previous fluctuations to not due timing is of unusual

also supply year million our with sales to We the $XXX.X pressures, prior challenges. strategic effect. inventory investments to increases chain experience for were price cost the quarter while business inflationary we chain global compared support and continue fully And challenges period. extraordinary made not for in and million $XXX.X growth supply were mitigate Net

from million $XXX.X fiscal mentioned $XX.X earlier. was However, the full increased as million million sales, profit $XXX.X the full to as Gross $XXX.X year profit year earlier. year, items. fiscal for the for increased the profit cash million million for for $XX.X as Again well XX.X% Selwyn earlier. a by year was $XXX.X a year, record with gross net from a quarter million quarter to a non-cash items impacted Gross compared

approximately provide accurately impact optimism new between premium certain each products appreciate non-cash and reflect and and then questions which items to core me GAAP. the item, each shelves, video. of are year and these this items periods $X.X customer explanation underlying good fundamentals for of I non-cash and website accounting with available finished in additional line further the provide review cores detailed amortization The revaluation will of was to can by the would you so I A for on unique required the a and core topic our Let total as on more details fiscal encourage about details our quarter on The understand evolves. is on million. our anyone

impacted let's products These China, ran timing territory supply disruptions our the the facility outsource tariffs. network cash our were The terms of Malaysia. certain reopening the our of we response, we due to and recover. and being begin government regional COVID unfortunately products as moved shipments as and up well back to the in are In then to the quickly key slow country with Malaysia chain, as In subject suppliers by of shutdown items, suppliers. reduced the XX% in but these of

of a As is low in one reminder, the of production Malaysia benefits tariffs.

fairly in results So production return country at facility relief to on our tariffs. immediate this in

incurred Next of were we we excess higher customer implemented. costs freight the that surcharges already in freight that

the related on to supply to costs have Freight we impact earnings We have Three rates. on $X.X These and morning's implement XXXX, the in to in referenced taken impact more total The the being transitory was surcharges price this higher and closely. further cash in June press swift for chain this freight based time are monitor of the release. disruptions continue profit incurred expectedly cost further forward. being, additional pressures effect action XX, of of offset situation first gross to these ending fiscal million but as Exhibit should stabilized quarter, mitigate cost freight going increases current

and million our compared previously items prior the from in cash increasing up well margin net on, ramp moving to related XX.X% a was from expansion We're as nor from should year cost related Reported of compared pleased quarter quarter, fourth Reported that by the expenses earlier. nicely. X% production with gross quarter. quarter, the there I of previously non-cash percentage a fourth as that impacted items pressures chain Before transitory a breakout gross with $X.X transition X.X% is to profit no supply mentioned sales year XX.X% disruptions. fiscal was as Mexico third note this were mentioned

In would expect addition, key three items. impacted as further gross was by profit,

materials wage should a offset raw increases. to moment we and The supplies inflationary price ago experienced First mentioned related price pressures. increases I offshore and costs these help

line, Second, costs up with and product for ramp the we related up. for initiatives experienced our price to growth the increases ramp new breakout

business enhanced new our we For opportunities, gross margins. expect

impacted gross mix. by was margin Finally, product

or should items This were results also disruptions, cents share, by primarily million $X.XX services increased million with net share-based non-cash mark-to-market million $X.X million that $X.X should and to totalling decrease $XX.X year the was $X.X in totaling expenses. and loss due was fourth and Reported period. due The $XXX,XXX foreign The items discount emphasize per per expenses year, on operating $X.X gain $X.X the reflects note per of due $X.X compared million higher higher for the voter $X.XX compensation, were to compared lease that share. a $XX cost loss travel million $X.XX supply impacted prior and interest transitory to I last or for for for borrowings. million chain $X.X impact reported to with non-cash of million net that primarily or contracts primarily outside $X.XX share. on, commissioned was increase remaining liabilities totaled compared spent quarter. prior or our primarily interest programs of includes pressures offered by non-cash a year with $X customers million receivable share. a I per exchange million accounts Moving rates related loss

was $XX.X was or there million. million related with items related $X.XX million and or tax cash loss and interest the the of of period. per year net million primarily $X.XX share to or expansion per caliber product share. $X.X $X.X prior million compares to impacted income relocation prior is share above was transitory period and prior million to diluted impacted period. totaling for per related share, of was prior expenses includes the Mexico the year a quarter corporate chain $X $XX.X startup in million as in break non-cash This non-cash other to as or income to as compared of for another items items diluted period. pressures particularly caliber before $XX.X the well were in $X for year was fourth cash items costs non-cash and strong was diluted in the nine of $X.X by related EBITDA cash expense EBITDA was before break as to for quarter. $X.X and $X.X by the Results quarter the per total due million product the Reported we EBITDA It cash fourth quarter the primarily start-up above a million expenses, items important or Mexico. fourth in diluted $XXX,XXX by related the experienced of supply cash primarily the and costs $X.X $X.X for Additionally, the $XXX,XXX million EBITDA mentioned items with $X.XX non-cash expansion in recognize impact non-cash that well expenses mentioned net in related expenses. items, impact relocation EBITDA month fourth to quarter. cost million impacted EBITDA totalling disruptions. million. $X.XX of year-ago

of not positive is or our outlook. quarter fourth the indicative So year-over-year our performance

Now let year me results. the discuss full fiscal

income primarily with was destruction of exchange with of 'XX non-cash or included is due at centers release. morning's inventory with which fiscal XX.X% X.X% beyond forward transitory impact a per for from to year or this million Next $XXX.X our non-economic million income million detailed revenue $XXX.X compared sales of Gross by million non-cash Exhibit a expected a with of realignment appreciate as benefits Gross Mexico due core of in diluted XX.X% of $XXX.X It margin in sales liabilities a has product $XX.X for X 'XX net Net primarily distribution compared a 'XX the in in increased and year profit compared a share by Net percentage control. was our impacted $X.XX impact $X.XX diluted to X.X% Gross changes. $XXX.X as year earlier. sales as fiscal press of record million period, are was earlier. prior 'XX to $XX.X year $X.X fiscal items earlier. fiscal million was million items $XX.X on supply the for lease mix share, for contracts, chain million and compared a per customer with operations business, foreign the to sales net ago. profit important and our earnings for XX.X% future year

as share year that $XX.X of press cash be compared fiscal per summarize fiscal -- recognize we was noted before part Mexico not rate and share cost fiscal 'XX. $X.XX foreign year was To to non-cash only which there million pre-tax of a calipers out during 'XX in which diluted first items share. jurisdictions mention did impact the and per impact net share favorable the with in of of impacted impact prior detailed company I for foreign per or exchange million should of $XX.X in release. primarily Exhibit of the $XX.X realized or the was share fiscal the compared year lease million earnings $XX.X million share the specific mentioned contracts $X.XX incurred favorable to non-cash approximately occurred a diluted 'XX liabilities impact only resulted to $XX,XXX effective of year. no or fiscal of for $X.XX with which expansion $X.XX and liabilities earnings current second detailed half start-up lease losses. morning's and brake the $X.XX $XX resulted were the exchange Exhibit million, XXXX, non-cash for foreign from $X.XX a total current the favorable for foreign $XX.X press during year It due total in benefit last release. example, income contracts, In of the a impact the The gain as Mexico, half cash was or relates million a For X this in in in X pre-tax expect cost gain should this also per tax of from diluted diluted impact per prior morning's or million above a 'XX, a of $X.X or per diluted forward

relocation of year related future only related we EBITDA cost EBITDA for as of and non-cash well $XX.X million as 'XX. future in items was impacted was cash these benefit items cash gains million. primarily primarily EBITDA $XX.X million above tax million for rates. non-cash fiscal in million. the will to items, for prior losses non-cash EBITDA However, transitory $XXX,XXX net disruptions. expect to other 'XX costs before impact fiscal items, pressures fiscal which to well $XX.X brake utilized was cash and against was EBITDA EBITDA expansion the was the by the the will be as caliper mentioned $XX.X of $XX.X expenses impact as by above million $XX.X impacted was related million startup the product $XX.X non-cash for chain due profits, to and the 'XX fiscal XXXX. of in items Mexico. before cash mentioned prior supply

activities increases spur a proactive as well the investments strategic mitigate supply we working $XX.X during growth our support on move Now in used items. also key basis. fourth potential to will initiatives chain not million capital record year-over-year requirements activities cash prior period. reflects related flow year believe to and the Net these further on issues. million operating as versus will to cash used growth in address in quarter to for but inventory the the sales company and growth, We $XX.X corporate anticipated risk, operating cash business for business This was only in corporate due disruption

XX.X% XX.X% pre-tax on Our with a compared year the year fiscal on a earlier. capital return of basis was at invested end

of from expectations increased new as are existing to categories both continuing the launch And lines $XXX cash with strategic while our at our our new and approximately debt approximately realized. the quarter the product $XXX.X break the expanding benefits operations realize We credit our the and lastly, fully end returns of of was benefits on the million. and revolving was of the of net Mexican availability are facility million expansion more

five impacted press open this I For refer results line Exhibit further measures, morning's earnings like in would questions. to the now explanation on please release. that one the financial reconciliation items to non-GAAP to for of and

Operator

instructions] with the Koranda question ROTH Capital. first is of Your from [Operator line Matt

open. is line Your

UnidentifiedAnalyst

breakdown between revenue wheel and [ph] the hub Mike rotating just quarter? electrical Matt. it's products start for on Could, we brake guys, with Hey a for

David Lee

XX% ended the electrical rotating brake-related Yes, Wheel our for products of fourth X% XX% of products products were quarter of XX, sales, sales. were and sales. March 'XX, other were hub products XX%

UnidentifiedAnalyst

Thank Helpful. guys. it. you Got

So specifically quarter, Can incrementally supply better. to seeing in on you to costs the improvement where gotten just related there? cash items chain certain elaborate we're seem have

Selwyn Joffe

So supply disruption overall, chain as those mentioned, costs you decreased. have

impact quarter come as as further cost go we supply price prior go over into will are chain increases expect that down. effect you further as those the that price smaller So mentioned, sequentially we disruptions, into effect, increases to do seeing and the the we identify continue a

UnidentifiedAnalyst

helpful. Okay, got That's it.

and of really so some in revenue throughout expected it terms And provide release the on year, guys just could guide, highlight the the color looks growth of guidance factoring the categories? you is we product strong press specific fiscal and ramp across and stronger Are we 'XX? into is to in all kind what growth similar in growth growth guide category credit giving assuming products or

Selwyn Joffe

are going categories related categories higher newer so, as break to a percentage the to have going growth. are much higher growth, the have Look,

We across board. growth the expect

is think our commitments have now. I reflecting that we sales guidance

well as products grow as other we basis. So, as opportunity to think think of all I significantly still product overall that road, our stable a more will lines breakthrough of go down the continue we but there's plenty on

UnidentifiedAnalyst

Got it.

as EBITDA guide? one prices, any higher miles trend what makes degree That how we're in into speak Okay. pressures. vehicle in me, just guide, gas So factoring supply could Last year headwinds to you potentially for such sense. lower the the into implied traveled headwinds and

Selwyn Joffe

driven, to continuing we've see fairly positive cars wait the going new some that to growth. population of think and mitigating unfolds, have and market aging regardless availability, could going the We've lack see I of we of the and and think that be fundamentals of to are Miles people but but I cause be at gas I think is should prices. with repair how be high growth. to their we're miles car to the required think I driven we what certainly looked got even incremental strong, think that those

UnidentifiedAnalyst

it. for Got Thanks. guys. all That's me,

Operator

from Bill instructions] [Operator Capital. line next Your with Tieton question comes of Dezellem the

Your is Dezellem line you. open. William Q Thank -

have discussed of you'll you and around a of saw to your get softness what questions, you believe I in year the and that the number led that would the what and has April, allow, I June. first March, strength strength saw conversely was to in May all, to you degree cause like January If into of commentary that? that what in that And and February continued

Selwyn Joffe

a comprehensive related there's recount sync us, a we That's chain because and new try been so to orders suppliers. and that in the just had and question, of of and always Yeah is to pretty certainly Bill. the a other be focus soft to on thing related but supply that update challenges the start not sort so but to future. we months, I'll quarter those first to

So sequencing customers change. do changes by update orders our

So we into year current see some of pushback out update of later the some fourth in quarter, orders. this months

that sales, pretty some score in reported rain our customers is history I we've of some high was areas month I data you can affected was March, the biggest extreme some think the the, company. the and think I in thing there but by volume other The ever had tell

started strong. is continues So strong choppy back -- come and more to to did demand is normalize be and you're March things well right, is

world general, in year, next because there's frankly. we high we quite are in as go the we degree cautious although strong, a is this our of uncertainty, think through So, just outlook

suffer don't parts. in the others don't perform repairs because say for recessionary the we to and, longer repairs times. to certainly because for like we these perform helpful and it's could be, non-discretionary want good, but us think stay and times have And people I of ways generally us got some have they road on cars I recessionary

your need drive you brakes your So to car.

need starter a alternator, You etcetera. and you need an

So, we are very positive about the future.

are there as close basis, lease. non-cash lease while revaluation on think for dollar an to to you are which be of fiscal it's going absolutely has because EBITDA know, $XX subsidiary, pushing to we the a These rules will Mexico still nothing. be completely leases this fluctuations, the it noneconomic with in the we year. million I are our be maquiladora on think the subsidiary means -- cash and of And

XXX% write fluctuations shelves are customer these completely are non-economic. all non-cconomic. The completely are So currency downs imposing

customer a us, ever that contracts dollar ever terminates, for fixed Our they require calls. pay if those the if terminate value

So are non cash, non-economics. completely those write-downs

other is driving vehicle So sort affect bit, means substantially We're good repair price of age I've see up are than spending gone average the The have the they're growing industry. amount gaining lines prices and should of of and economic of down because adjustment fundamental cars continued their driving the are your and expecting -- guess vehicle and question product people and demand so increases on transportation. but we overstepped go little demand up, see they cars better in strong strong rates in I your overall, on as fuel see I we while think come older get so that I strong airfares and that vacations, and a the share is dramatically. -- alternative

record William April, that March? a the Maybe outlook. in May little saw answered you chain supply our was Hope here month continuing March and March. since said, strength that's then Have you challenging? a record and continue about and how that that in weather less into that seen with levels as is - So maybe was June, helpful, is Dezellem Q better your the you strength question. not No,

Selwyn Joffe

say going of extraordinary a very off Yes. January. the March coming to I'm was soft March not an because

are and to the other. is I the would that say each strong of guidance. sort be they offset now, right So we in high expect All fundamentals end our of

and Dezellem considerations the to it take supply are. chain Is And to into improving. Q chain. to is it want made beat similar -- we But few supply Maybe William should very So improving? really jump a be account want Or out. want presumption just actually, just be I Is the it. over ask was let's perhaps where worsening? flat it that last even conservative to we we we of - I months?

Selwyn Joffe

months. over these months, Well, you shutdowns enormous have saw the Shanghai X last X

is the a But through what frankly, to were. testing, mean, There put to And on another hold mass Shanghai I trucks really producing infection I'm you you would affect good you event hard the and running less are it's got up Chinese can't more facilities and that down, and us better The while less. to so and that improving, shuts our brake mostly of to dramatically. dependence went and not have check terms over around, supply our and Shanghai sure improvement And I choppy. and I gets pretty and continues Freight for are our shutdown more that then China move an be seemed outcome. chain. dependence on predict. it's unexpected And news weekend, our the and days a getting see tell quite us for rates then in very to the over is looking -- once what it's operations are diminish, -- and And availability. weekend absorbing production caliper in Malaysian out happened.

speaking in - pushing lots Prices caution on dramatically it choice. and them through, components, around Dezellem William we we're no So I And now. say, right up of expected would of are through when terms Q is flow general, your the just and P&L? will would flowing the and last increases, P&L, when please price the you update be increase us price timing of price of increases in to have through

Selwyn Joffe

Yes.

been quarter. react as perpetual with And got a on going expect price to price increases back to increases be in more We should the we They in bit. little are you, pushed earlier We May. marketplace. there have the honest

price going have we'll all this so August time. at point the increases in through way through And

that and clarity And passed I so costs are Dezellem the to just be expect through there William to that. Q just or inflation, have stop consumer. fortunately. So then mean, is to that to -- ultimately we - don't there unfortunately on for

So today? August, will increases you through increases in of -- as announcing will the that through August price or is know P&L your that or the with price customers ending flowing be you starting what be the

Selwyn Joffe

an they And that the true, testers reduce theory here's that's Dezellem your So but will, the to been back August. store, know have component whether this thinking? vehicle way are to not. consumer and a if question, lastly -- spirit How mistake, of so, these testers? of if or is As you, benchtop is testers, a was the increases having these notified locations that benchtop or today, we they significant of have when need the - of line costs. through magnitude? into And result returned and XX,XXX the advantage a And as would Q they there the a do, the then what's William the that brought there buying retail already because comes lower the not that a your then from new Is if and correct for is the levels opportunity you now, it? price in the actually ultimately return store all installed

Selwyn Joffe

-- important most magnitude that that's going out they applications correct. all, capable not thing store them there. as are testing trustworthy accurate to and able that The testers and for is the of interesting retailer all right The that they're not absolutely to mean, the are is are are of First place the give testers for be and out. I now, advice. we though roll in they the new

instead choice. will going customer It's down. that without to time be that to solving so we through to is come costs to do and the they'll to solve, take more trying see before it's problem guide that a customer making effectively the hard some going very be able the I quantify, And of disappointing that. customer think right

Operator

the this now I at time. questions Mr. further turn call no Joffe. Selwyn to are will over There back

Selwyn Joffe

just you, our future. in about Thank Okay. And we say, are excited to summary, want everybody. I

inflection to lines. on our ongoing and existing their customer-centric line have service. opportunities top with we with thank our bottom focus line a build team reached strategic our point and expect all both and year a product as for our In strong commitment want our usual, transition, members on I in We closing, to

on in forward our speaking you quarter and these our and focused I And conference we continued extremely the proud look at look call of joining challenging I fiscal when call, times, conferences. and your investor to I'm August, future Thanks. company. appreciate we we particularly XXXX During the forward, of we for again and team members remain employees, you thank safety and and us well-being on our support, with our and first host

Operator

thank conference gentlemen, you concludes today's for Ladies and participating. This call.

You may now disconnect.

Gary Maier	VP, Corporate Communications and IR
Selwyn Joffe	Chairman, President & CEO
David Lee	CFO
William Dezellem	Tieton Capital Management

Motorcar Parts of America (MPAA) 14 Jun 222022 Q4 Earnings call transcript