Motorcar Parts of America, Inc. (NASDAQ:MPAA) Q1 2025 Earnings Call August 8, 2024 1:00 PM ET

Company Participants

Gary Maier - Vice President, Corporate Communications and Investor Relations
Selwyn Joffe - Chairman, President and Chief Executive Officer
David Lee - Chief Financial Officer

Conference Call Participants

Bill Dezellem - Tieton Capital

Operator

Thank you for standing by. My name is Kayla, and I will be your conference operator today. At this time, I would like to welcome everyone to the Motorcar Parts of America Inc. Fiscal 2025 First Quarter Conference Call and Webcast. [Operator Instructions] I would now like to turn the call over to Gary Maier, Vice President of Corporate Communications and Investor Relations. You may begin.

Gary Maier

Thank you, Kayla, and thanks, everyone, for joining us for our call. Before I turn the call over to Selwyn Joffe, Chairman, President and Chief Executive Officer and David Lee, 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 made during today’s call. These 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 the 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 revise or update 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.

I would now like to turn the call over to Selwyn to begin today’s call.

Selwyn Joffe

Thank you, Gary. I appreciate everyone joining us today. We were encouraged by our record sales performance for the quarter and remain optimistic about the quarters ahead and achieving our full-year targets. For the quarter, our gross profit and gross margin metrics improved, which David will discuss in more detail, and we expect to realize further improvements through solid sales performance combined with ongoing strategic initiatives to further enhance operations.