U.S. Auto Parts web sales top $120 million and lap 2005 revenue by 101%

U.S. Auto Parts Network Inc. reports sales of $120.1 million for fiscal year 2006, ended Dec. 31, an increase of 101% from $59.7 million in the prior year. Several factors contributed to the record growth for the online retailer of aftermarket auto parts and accessories.

“We achieved revenue growth in excess of 100%, driven by growth in our SKU count, as we expanded our product offering to include engine parts and performance parts and accessories, as well as growth in the number of unique visitors to our network of web sites in 2006,” says Mehran Nia, president and CEO.

In addition to USAutoParts.com, the company operates PartsTrain.com, No. 166 in the Internet Retailer Top 500 Guide.

Net income for FY 2006 was $3.5 million, while the company recorded a net loss of $20,000 for Q4. Net sales were $36.8 million for Q4 2006, up 134% from $15.7 million in Q4 2005.

U.S. Auto Parts conducted an initial public offering of stock in 2006 and repaid debt, both of which contributed to a successful year, says CFO Michael McClane.

Key accomplishments noted by McClane include:

• Increased monthly unique visitors in Q4 2006 to 20.4 million, a lift of 35% compared to the same period in 2005, after accounting for the Partsbin acquisition.
• Conversion rate increased to 1.2% from 1.1% in 2005.
• Total orders placed through e-commerce sites rose to approximately 748,000 in 2006 from 288,000 in 2005, an increase of approximately160%.

U.S. Auto Parts Network provides access to about 550,000 products mapped to a database of 4.3 million applications based on vehicle makes, models and years.