Net sales for the fiscal 2013 nine-month period increased to $316.9 million from $262.2 million for the same period last year. Results for the nine-month period include revenue of approximately $50.8 million that was recognized as a result of the elimination of the company's obligation to accept core returns from a customer, previously accrued for in the undercar segment. As anticipated due to the impact of the company's undercar product line segment transition and turnaround, the company reported a consolidated net loss for the fiscal 2013 nine-month period of $17.9 million, or $1.25 per share, compared with a consolidated net loss of $35.6 million, or $2.86 per share, for the comparable period a year earlier.Net sales for fiscal 2013 nine-month period for the rotating electrical segment increased 20.7 percent to $155.1 million from $128.5 million for the same period last year. Gross profit for rotating electrical was $51.2 million compared with $40.5 million a year earlier. Gross profit as a percentage of sales for the rotating electrical segment for the nine months increased to 33.0 percent from 31.5 percent last year, reflecting higher sales and better absorption of manufacturing overhead. On a non-GAAP basis, Adjusted EBITDA for the company's rotating electrical segment for the nine months was $30.8 million compared with $21.9 million for the same period a year earlier.
Motorcar Parts Of America Reports Fiscal 2013 Third Quarter
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