Motorcar Parts & Accessories, Inc. Announces Third Quarter Earnings

    TORRANCE, Calif.--Nov. 2, 2001--Motorcar Parts & Accessories, Inc. (Internet billboard:MPAA) announced today that its net income for the three months ended September 30, 2001 was $2,800,000 or $.40 per share (fully diluted).
    This compares to net income of $566,000 or $.09 per fully diluted share for the three months ended September 30, 2000. Revenues for this most recent three-month period equaled $49,229,000, as compared to revenues of $43,964,000 for three months ended September 30, 2000.
    MPA also announced that its net income for the six months ended September 30, 2001 was $3,708,000 or $.53 per share (fully diluted) as compared to net income of $844,000 or $.13 per fully diluted share for the six months ended September 30, 2000. Revenues for this most recent six-month period equaled $91,480,000, as compared to revenues of $85,365,000 for the six months ended September 30, 2000.
    Anthony Souza, MPA's President, stated "we are pleased with our most recent performance. We have increased sales to several of our existing customers and continued to control our overall cost structure."
    MPA is a leading manufacturer or replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. MPA's full line of alternators and starters are remanufactured for import and domestic vehicles.