US online aftermarket provider Auto Parts Network has reported net sales for the third quarter ended 2 October 2, 2010 of US$72.3m compared with Q3 2009 net sales of US$47m.
Excluding US$13.6m of revenues from the acquisition of J C Whitney, net sales were US$58.7m, an increase of 25% compared to Q3 2009 net sales.
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Third quarter 2010 net loss was US$13m or US$0.43 per share, compared with Q3 2009 net income of US$0.8 million or US$0.03 per diluted share. Q3 2010’s net loss includes a valuation allowance for deferred tax assets of US$11.4m.
The company generated adjusted EBITDA of US$2.2m for the quarter compared to US$3.6m for Q3 2009.
“Q3 2010 marks the fifth consecutive quarter where we delivered 25% or greater sales growth and double-digit adjusted EBITDA growth,” said CEO Shane Evangelist.
“We continue to be very excited about our acquisition of JC Whitney including its strong brands, its customer reach in the accessories market and its product-lines that can be extended across our sites.
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By GlobalData“We have been maniacally focused on accelerating Whitney’s integration onto our platform so our skills at driving traffic, increasing selection and maximising supply chain efficiency can be deployed.”
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