Motorcar Parts of America, Inc. (NASDAQ:MPAA) Q1 2023 Results Conference Call August 9, 2022 1:00 PM ET
Company Participants
Gary Maier - VP, Corporate Communications and Investor Relations
Selwyn Joffe - Chairman, President & Chief Executive Officer
David Lee - Chief Financial Officer
Conference Call Participants
Brian Nagel - Oppenheimer
Matt Koranda - ROTH Capital
Bill Dezellem - Tieton Capital
Operator
Hello. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Motorcar Parts of America's Fiscal 2023 First Quarter Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. [Operator Instructions] Thank you.
Gary Maier, VP of Investor Relations and Corporate Communications, you may begin.
Gary Maier
Thank you, Chris. Thanks, everyone, for joining today. Before we begin and I turn the call over to Selwyn Joffe, Chairman, President and Chief Executive Officer; and David Lee, the Company's Chief Financial Officer, I'd like to remind everyone of the safe harbor statement included in today's press release.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements, including statements made during today's conference call. Such forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by Motorcar Parts of America.
Actual results may differ from those projected in these forward-looking statements. These forward-looking statements involve significant risks and uncertainties, some of which are beyond the control of the Company and are subject to change based upon various factors. In particular, expectations about anticipated future growth and opportunities with customers may not be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed discussion of the ongoing risks and uncertainties of the Company's business, I refer you to the Company's various filings with the Securities and Exchange Commission.
With that said, I'd like to begin the call and turn it over to Selwyn Joffe.
Selwyn Joffe
Thank you, Gary. I appreciate everyone joining us today. I hope you're all safe and healthy. As announced this morning, our new fiscal year is off to an excellent start with sales climbing 10% on a year-over-year basis, reaching record levels, supported by continued strong demand for non-discretionary products across our North American customer base. Let me highlight several items that support our optimism as fiscal 2023 evolves.