Motorcar Parts of America, Inc. (NASDAQ:MPAA) Q2 2024 Earnings Conference Call November 9, 2023 1:00 PM ET

Company Participants

Gary Maier - Vice President-Corporate Communications & Investor Relations

Selwyn Joffe - Chairman, President & Chief Executive Officer

David Lee - Chief Financial Officer

Conference Call Participants

Matt Koranda - ROTH MKM

William Dossett - Oppenheimer

Operator

Ladies and gentlemen, thank you for standing by. My name is Bhavesh, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Motorcar Parts of America Fiscal 2024 Second Quarter Conference Call and Webcast. At this time, 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.

I will now hand the call over to Gary Maier, VP of Communications and Investor Relations with Motorcar Parts of America. You may begin your conference.

Gary Maier

Thank you. Thanks everyone for joining us today. Before I turn the call over to Selwyn Joffe, the Chairman, President and Chief Executive Officer, and David Lee, the company's Chief Financial Officer.

Let me 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 some 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.

I would now like to begin the call and turn it over to Selwyn.

Selwyn Joffe

Thank you, Gary. I appreciate everyone joining us today. We were encouraged by record sales and record gross profit for the quarter and six months and solid cash flow from operating activities. The company generated approximately $15 million of cash from operating activities during the quarter.