Motorcar Parts of America, Inc. forecasts expected revenues of approximately US$135-140 million based on projections for its 2009 fiscal year ending next March. This number is largely based upon anticipated timing of product shipments to several new customers.
“Based on current trends, we anticipate near-term sales will be somewhat weaker than anticipated due to timing of new business shipments. Nevertheless, we anticipate favorable fiscal year-over-year comparisons for the second half of 2009,” said Selwyn Joffe, chairman, president and chief executive officer.
The company also said it has signed a five-year agreement valued at approximately US$22 million in the agreggate with an OEM automotive parts supplier to provide remanufactured alternators and starters to dealerships and specialty import wholesale parts distributors. In addition, the company has said it has signed a new agreement with a prestigious traditional warehouse group valued at approximately $8 million over the next five years.
Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters. Its headquartered in Torrance, California and employs more than 2,000 people.