CarParts.com Inc., an e-commerce provider of automotive parts and accessories, is reporting results for the fourth quarter and fiscal year ended Jan. 2, 2021.
Fourth Quarter 2020 Summary vs. Year-Ago Quarter
- Net sales increased 90 percent year over year to $119.7 million (includes one extra week).
- Gross profit increased 97 percent to $41.6 million, with gross margin up 110 basis points to 34.8 percent.
- Net loss was ($3.5) million or ($0.07) per share, compared to a net loss of ($25.1) million or ($0.70) per share. Q4 2019 net loss included a ($23.0) million non-cash deferred tax valuation allowance.
- Adjusted EBITDA decreased to $1.0 million vs. $1.7 million in the year ago quarter. The decline was partially due to approximately $1 million in additional expenses associated with the opening of a Texas Distribution Center (“DC”) as well as increased receiving across the network.