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U.S. Auto Parts Network Reports Third Quarter Results


12/14/2010

Excluding $13.6 million of revenues from the acquisition of J.C. Whitney, net sales were $58.7 million, an increase of 25 percent over third quarter 2009 net sales.
 
CARSON, Calif. — U.S. Auto Parts Network has reported net sales for the third quarter ended Oct. 2, of $72.3 million compared with the third quarter 2009 net sales of $47 million.

Excluding $13.6 million of revenues from the acquisition of J.C. Whitney, net sales were $58.7 million, an increase of 25 percent over third quarter 2009 net sales. Third quarter 2010 net loss was $13 million or 43 cents per share, compared with the third quarter 2009 net income of $0.8 million or 3 cents per diluted share.

“Q3 2010 marks the fifth consecutive quarter where we delivered 25 percent or greater sales growth and double-digit adjusted EBITDA growth,” said Shane Evangelist, CEO. “We continue to be very excited about our acquisition of J.C. Whitney, including their strong brands, their customer reach in the accessories market and their product lines that can be extended across our sites. We have been maniacally focused on accelerating Whitney’s integration onto our platform so that our skills at driving traffic, increasing selection and maximizing supply chain efficiency can be deployed. The first Whitney URL, Carparts.com, was ported over to our IT backbone at the end of October, and we plan to methodically transition the remaining Whitney sites by the end of Q2 2011.”














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