U.S. Auto Parts Network Q2 sales lap prior year quarter by 56%
U.S. Auto Parts Network Inc., an online provider of aftermarket auto parts and accessories, reports net sales for the second quarter ended June 30, 2007, of $42.1 million, an increase of 56% from $27 million in the prior year period. U.S. Auto Parts Network is No. 81 in the Internet Retailer Top 500 Guide.
“We are excited that we are performing at increasing levels of profitability while also investing in our company and our future,” says Michael McClane, CFO. “In the second quarter, we focused our paid search efforts within our e-commerce channel in order to reduce our customer acquisition cost and began to optimize our pricing strategy, which contributed to our expansion in gross margin. We have realized some early success in driving our key operating metrics and plan to continue to execute on our strategy to improve our return on invested capital.”
Adjusted earnings before interest, taxes, depreciation and amortization for the second quarter of 2007 were $3.8 million, representing 9% of net sales. That figure excludes share-based compensation expense related to option grants of $0.6 million, compared to adjusted EBITDA of $3.1 million in the prior year period, which excluded share-based compensation expense of $0.2 million.
Added Mehran Nia, CEO: “We are on track with a number of key initiatives designed to improve our business over time and will also create an even better experience for our customers. During the second quarter, we opened our new distribution center in Tennessee and launched our web analytics platform.”
U.S. Auto Parts Network’s Q2 monthly unique visitors rose 57% to 22 million. Web-based orders increased 61% to approximately 257,000 orders in the second quarter of 2007, from 160,000 in the corresponding period of 2006, while average order value rose a dollar to $125 during the quarter.
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