CARSON, Calif. U.S. Auto Parts Network has reported net sales for the first quarter ended March 31, 2012, of $87.4 million, compared with the first quarter ended April 2, 2011, net sales of $87 million, an increase of 0.5 percent over first-quarter 2011 net sales.
First-quarter 2012 net loss was $0.8 million or 3 cents per share, compared with a first-quarter 2011 net loss of $0.2 million or 1 cent per share. The company said its online sales were moderately higher primarily due to an increase in visitors and orders, partially offset by lower conversion, revenue capture and average order value. Offline net sales increased by 8.1 percent compared to last year. On April 26, the company entered into a new credit agreement with JPMorgan Chase, N.A., which provides for a revolving commitment in an aggregate principal amount of up to $40 million with an option to increase the line up to $60 million.