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U.S. Auto Parts Network ratchets up Q1 sales by 143% to $43.7 million
U.S. Auto Parts Network Inc. reports online sales of $43.7 million, up 143% from $18 million in the prior year period. Growth was driven by both the acquisition of Partsbin, which closed in May 2006, and organic growth, the company says.
Topics: business finance
Fueled by its acquisition of Partsbin last year, U.S. Auto Parts Network Inc. reports online sales of $43.7 million for the first quarter ended March 31. The figure represents a 143% sales increase for the online aftermarket auto parts and accessories retailer, up from $18 million in the prior year period.
The increase in net sales was driven by the acquisition of Partsbin, which closed in May 2006, and organic growth, reports U.S. Auto Parts Network, No. 81 in the Internet Retailer Top 500 Guide.
Net profit for Q1 2007 was $200,000 compared with net income of $2.7 million for the prior year period. The 2007 figure accounts for $2.1 million of amortization expense for the quarter.
Operating highlights for Q1 2007 include a 21% increase in the number of monthly unique visitors, which reached 23 million, compared with the first quarter of 2006 on a pro-forma basis after accounting for the acquisition of Partsbin.com. U.S. Auto Parts also reports its Q1 conversion rate rose to 1.2% compared with 1.1% in the same period of 2006, while its customer acquisition cost dropped to about $9 in Q1 2007 from about $10 in Q1 2006.
In addition to USAutoParts.com, the company operates PartsTrain.com and AutoPartsWarehouse.com, which together carry about 550,000 vehicle parts and accessories.