Motorcar Parts of America Inc. (MPAA)

[littlefish]

Don't think they did. Woulda been good for them to step thru.
I haven't had a chance to look at the balance sheet much yet. I am guessing it will take another couple Qs before we start seeing cash build on the balance sheet meaningfully with the intensive inventories they carry, unless they start ramping heavy duty even more.
The plus side of that I would think would be they'd only build a substantial amount of heavy duty inv if they get some decent wins from customers for supplying. They already carry a lot of heavy duty parts but doubt they are in large quantity. Would be a good question to ask if they'd know offhand, how much of inv is segmented toward heavy duty.
Having to house all that inventory not only at their places but also at the retail chains is a capital intensive project.
It was a decent Q though. Factoring out all the 1 times on all the Qs, this Q I think was the strongest in terms of gross profit, op income, and net earnings if we apply 40% tax rate to all #s. Revs slightly lighter than the one Q but if we're getting better operational profitability, that's OK with me.