Motorcar Parts of America, Inc. (NASDAQ:MPAA) Q4 2024 Earnings Conference Call June 11, 2024 1:00 PM ET

Company Participants

Gary Maier - VP-Corporate Communications & IR
Selwyn Joffe - Chairman, President & CEO
David Lee - CFO

Conference Call Participants

Carolina Jolly - Gabelli Funds
Bill Dezellem - Tieton Capital
Chris Riemenschneider - Morgan Stanley

Operator

Thank you for standing by. My name is Ellie, and I'll be your conference operator for today. At this time, I would like to welcome everyone to the Motorcar Parts of America Incorporated Fiscal 2024 Year End Conference Call and Webcast. 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'd now like to hand over the conference to Gary Maier, Vice President of Corporate Communications and Investor Relations. You may now begin.

Gary Maier

Thank you, Ellie, and thanks, everyone, for joining us this morning. Before 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 some of the ongoing risks and uncertainties of the company's business, I refer you to the various filings with the Securities and Exchange Commission.

With that said, I'd like to turn the call over to Selwyn Joffe.

Selwyn Joffe

Thank you, Gary. I appreciate everyone joining us today. We are encouraged by our operating results for the fiscal year, including strong sales performance, increased gross margin, increased EBITDA and significant positive cash flow. For the 12 months, we generated $39.2 million in positive cash from operating activities and paid down net debt by $32.5 million to $114 million.