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U.S. Auto Parts Reports Second Quarter 2018 Results

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in U.S. Auto Parts Forum

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CARSON, Calif., Aug. 8, 2018 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (NASDAQ: 

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), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the second quarter ended June 30, 2018. All information and data are from continuing operations, which exclude the AutoMD operating segment unless specifically noted.

Second Quarter 2018 Financial Summary vs. Year-Ago Quarter

  • Net sales were $77.0 million compared to $80.2 million.
  • Gross margin was 27.9% compared to 29.0%.
  • Net loss was $(0.5) million, or $(0.02) per share, compared to $26.9 million or $0.67 per share (Q2'17 includes a $25.9 million tax credit).
  • Adjusted EBITDA (a non-GAAP measure defined below) was $2.8 million compared to $3.8 million.
  • Ended the quarter with no revolver debt.

Second Quarter 2018 Operational Highlights vs. Year-Ago Quarter

  • Conversion rate increased 70 basis points to 2.7%.
  • Average order value increased 4% to $88.
  • Revenue capture increased 240 basis points to 87.7%.

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