Stopped out on those extra shares as chart breakdown and weak market causing hot money selling
still don't believe sellers are "smart" sellers but protect yourself until they are done
haven't sold any of my core position and story still in tact imo
stop out on everything would be a break below the 200 day mvg. Maybe 2.95 or so for me, but obviously not expecting that
we we will all know more shortly
still don't believe sellers are "smart" sellers but protect yourself until they are done
haven't sold any of my core position and story still in tact imo
stop out on everything would be a break below the 200 day mvg. Maybe 2.95 or so for me, but obviously not expecting that
we we will all know more shortly
Ok, this may explain the short term pressure
[h=1]U.S. Auto Parts Network Inc. (PRTS) Stock Rating Lowered by Zacks Investment Research[/h]Posted on August 2, 2016 by Matt Cooper in Analyst Articles - US, Investing
U.S. Auto Parts Network Inc. (NASDAQ
RTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “US AUTO PARTS NETWORK, INC., is a leading online provider of automotive aftermarket parts, including body parts, engine parts, performance parts and accessories. Through the Company’s network of websites, U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes, models and years. “
Other institutional investors have made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of U.S. Auto Parts Network by 5,761.9% in the second quarter. Acadian Asset Management LLC now owns 53,636 shares of the company’s stock valued at $212,000 after buying an additional 52,721 shares during the last quarter. Renaissance Technologies LLC boosted its position in U.S. Auto Parts Network by 6.2% in the first quarter. Renaissance Technologies LLC now owns 659,500 shares of the company’s stock valued at $1,688,000 after buying an additional 38,600 shares in the last quarter. Cannell Capital LLC purchased a new position in U.S. Auto Parts Network during the fourth quarter valued at approximately $2,957,000. Lafitte Capital Management LP boosted its position in U.S. Auto Parts Network by 26.1% in the first quarter. Lafitte Capital Management LP now owns 2,399,982 shares of the company’s stock valued at $6,144,000 after buying an additional 496,054 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in U.S. Auto Parts Network by 1.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,823,992 shares of the company’s stock valued at $8,331,000 after buying an additional 35,826 shares in the last quarter.
Shares of U.S. Auto Parts Network (NASDAQRTS) traded down 11.90% during midday trading on Friday, reaching $3.48. The company had a trading volume of 326,744 shares. The company has a 50 day moving average price of $4.06 and a 200-day moving average price of $3.31. The firm’s market capitalization is $120.68 million. U.S. Auto Parts Network has a one year low of $1.87 and a one year high of $4.49.
U.S. Auto Parts Network (NASDAQRTS) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business earned $80.70 million during the quarter, compared to the consensus estimate of $78.70 million. On average, analysts anticipate that U.S. Auto Parts Network will post $0.04 EPS for the current fiscal year.
U.S. Auto Parts Network, Inc is an online source for automotive aftermarket parts and repair information. The Company is an online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories. Its Websites provide a range of stock keeping units (SKUs) with detailed product descriptions and photographs.
[h=1]U.S. Auto Parts Network Inc. (PRTS) Stock Rating Lowered by Zacks Investment Research[/h]Posted on August 2, 2016 by Matt Cooper in Analyst Articles - US, Investing
RTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday. According to Zacks, “US AUTO PARTS NETWORK, INC., is a leading online provider of automotive aftermarket parts, including body parts, engine parts, performance parts and accessories. Through the Company’s network of websites, U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes, models and years. “
Other institutional investors have made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of U.S. Auto Parts Network by 5,761.9% in the second quarter. Acadian Asset Management LLC now owns 53,636 shares of the company’s stock valued at $212,000 after buying an additional 52,721 shares during the last quarter. Renaissance Technologies LLC boosted its position in U.S. Auto Parts Network by 6.2% in the first quarter. Renaissance Technologies LLC now owns 659,500 shares of the company’s stock valued at $1,688,000 after buying an additional 38,600 shares in the last quarter. Cannell Capital LLC purchased a new position in U.S. Auto Parts Network during the fourth quarter valued at approximately $2,957,000. Lafitte Capital Management LP boosted its position in U.S. Auto Parts Network by 26.1% in the first quarter. Lafitte Capital Management LP now owns 2,399,982 shares of the company’s stock valued at $6,144,000 after buying an additional 496,054 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in U.S. Auto Parts Network by 1.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,823,992 shares of the company’s stock valued at $8,331,000 after buying an additional 35,826 shares in the last quarter.
Shares of U.S. Auto Parts Network (NASDAQ
RTS) traded down 11.90% during midday trading on Friday, reaching $3.48. The company had a trading volume of 326,744 shares. The company has a 50 day moving average price of $4.06 and a 200-day moving average price of $3.31. The firm’s market capitalization is $120.68 million. U.S. Auto Parts Network has a one year low of $1.87 and a one year high of $4.49.U.S. Auto Parts Network (NASDAQ
RTS) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business earned $80.70 million during the quarter, compared to the consensus estimate of $78.70 million. On average, analysts anticipate that U.S. Auto Parts Network will post $0.04 EPS for the current fiscal year. U.S. Auto Parts Network, Inc is an online source for automotive aftermarket parts and repair information. The Company is an online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories. Its Websites provide a range of stock keeping units (SKUs) with detailed product descriptions and photographs.
breaking out to knew highs today Roadshow coming prior to earnings
here ya go
U.S. Auto Parts to Present at the 36th Annual Canaccord Genuity Growth Conference on August 11, 2016
August 4, 2016
CARSON, Calif., Aug. 4, 2016 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, has been invited to present at the 36[SUP]th[/SUP] Annual Canaccord Genuity Growth Conference being held August 10-11, 2016 at the Intercontinental Boston Hotel.
U.S. Auto Parts management is scheduled to present on Thursday, August 11 at 10:30 a.m. Eastern time, with one-on-one meetings held throughout the day.
For more information about the conference or to schedule a one-on-one meeting with U.S. Auto Parts management, please contact your Canaccord representative.
About U.S. Auto Parts
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, www.jcwhitney.com, and www.automd.com, as well as the Company's corporate website at www.usautoparts.net.
Investor Relations
Liolios Group, Inc.
Cody Slach or Sean Mansouri
949-574-3860
PRTS@liolios.com
CARSON, Calif., Aug. 8, 2016 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, reported results for the second quarter ended July 2, 2016. All information and data excludes AutoMD unless specifically noted.
Second Quarter 2016 Financial Highlights vs. Year-Ago Quarter
"The momentum from Q1 has carried into the second quarter," said Shane Evangelist, CEO of U.S. Auto Parts. "The continued focus on our higher-margin private label business, coupled with operational efficiencies, led to our second consecutive quarter of GAAP profitability and a 129% year-over-year increase in adjusted EBITDA. We also ended the quarter with no revolver debt and a cash net of revolver debt swing of $9 million from last year. "
Second Quarter 2016 Financial Results
Net sales in the second quarter of 2016 increased 2% to $78.0 million compared to $76.4 million in the year-ago quarter. The increase was largely driven by an 16% increase in online marketplace sales to $20.6 million.
Gross profit in the second quarter of 2016 increased 14% to $23.7 million compared to $20.8 million in the year-ago quarter. As a percentage of net sales, gross profit increased 320 basis points to 30.4% compared to 27.2%. The increase in gross margin was primarily driven by a higher mix of private label sales, which were 65% of net sales compared to 60% in the year-ago quarter. The increase was also driven by freight and warehouse supplies savings.
Total operating expenses in the second quarter were $22.1 million compared to $21.2 million in the year-ago quarter. As a percentage of net sales, operating expenses were 28.4% compared to 27.8%.
Net income in the second quarter increased to $1.2 million, or $0.03 per diluted share, compared to a net loss of $0.6 million, or $(0.02) per diluted share in the year-ago quarter.
Adjusted EBITDA in the second quarter of 2016 increased 129% to $4.0 million compared to $1.8 million in the year-ago quarter. As a percentage of net sales, adjusted EBITDA increased 290 basis points to 5.2% compared to 2.3%. The significant increase was driven by the aforementioned improvements in gross margin, partially offset by the aforementioned increases in operating expenses.
At July 2, 2016, cash and cash equivalents totaled $2.1 million compared to $1.5 million at January 2, 2016. The Company also had no revolver debt as of July 2, 2016 compared to revolver debt of $11.8 million at January 2, 2016.
2016 Outlook
U.S. Auto Parts continues to expect net sales to be up low to mid-single digits on a percentage basis compared to 2015, and Adjusted EBITDA to range between $13.0 and $15.0 million, an improvement from U.S. Auto Parts' previously issued Adjusted EBITDA outlook.
Conference Call
U.S. Auto Parts will conduct a conference call today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss its financial results for the second quarter ended July 2, 2016.
The company's CEO Shane Evangelist and CFO Neil Watanabe will host the conference call, followed by a question and answer period.
Date: Monday, August 8, 2016
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877-407-9039
International dial-in number: 201-689-8470
Conference ID: 13640390
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios at 1-949-574-3860.
The conference call will be broadcast live and available for replay via the investor relations section of the company's website at www.usautoparts.net.
A telephone replay of the conference call will also be available on the same day through August 22, 2016.
Toll-free replay number: 877-870-5176
International replay number: 858-384-5517
Replay ID: 13640390
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision , engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship http://finance.yahoo.com/news/u-aut...d-200100003.html?soc_src=social-sh&soc_trk=ma
Second Quarter 2016 Financial Highlights vs. Year-Ago Quarter
- Net sales up 2% to $78.0 million
- Gross margin increased 320 basis points to 30.4%
- Net income increased to $1.2 million, or $0.03 per diluted share, compared to a net loss of $0.6 million, or $(0.02), per diluted share
- Adjusted EBITDA (a non-GAAP measure defined below) increased 129% to $4.0 million
- Ended the quarter with no revolver debt compared to $8.0 million at July 4, 2015
- Unique visitors increased 3% to 30.2 million
- Total online orders increased by 8% to 859,000 orders
"The momentum from Q1 has carried into the second quarter," said Shane Evangelist, CEO of U.S. Auto Parts. "The continued focus on our higher-margin private label business, coupled with operational efficiencies, led to our second consecutive quarter of GAAP profitability and a 129% year-over-year increase in adjusted EBITDA. We also ended the quarter with no revolver debt and a cash net of revolver debt swing of $9 million from last year. "
Second Quarter 2016 Financial Results
Net sales in the second quarter of 2016 increased 2% to $78.0 million compared to $76.4 million in the year-ago quarter. The increase was largely driven by an 16% increase in online marketplace sales to $20.6 million.
Gross profit in the second quarter of 2016 increased 14% to $23.7 million compared to $20.8 million in the year-ago quarter. As a percentage of net sales, gross profit increased 320 basis points to 30.4% compared to 27.2%. The increase in gross margin was primarily driven by a higher mix of private label sales, which were 65% of net sales compared to 60% in the year-ago quarter. The increase was also driven by freight and warehouse supplies savings.
Total operating expenses in the second quarter were $22.1 million compared to $21.2 million in the year-ago quarter. As a percentage of net sales, operating expenses were 28.4% compared to 27.8%.
Net income in the second quarter increased to $1.2 million, or $0.03 per diluted share, compared to a net loss of $0.6 million, or $(0.02) per diluted share in the year-ago quarter.
Adjusted EBITDA in the second quarter of 2016 increased 129% to $4.0 million compared to $1.8 million in the year-ago quarter. As a percentage of net sales, adjusted EBITDA increased 290 basis points to 5.2% compared to 2.3%. The significant increase was driven by the aforementioned improvements in gross margin, partially offset by the aforementioned increases in operating expenses.
At July 2, 2016, cash and cash equivalents totaled $2.1 million compared to $1.5 million at January 2, 2016. The Company also had no revolver debt as of July 2, 2016 compared to revolver debt of $11.8 million at January 2, 2016.
| Key Operating Metrics | |||||||||||
| Q2 2016 | Q2 2015 | Q1 2016 | |||||||||
| Conversion Rate [SUP]1[/SUP] | 1.80 | % | 1.79 | % | 1.78 | % | |||||
| Customer Acquisition Cost [SUP]1[/SUP] | $ | 7.54 | $ | 7.91 | $ | 7.73 | |||||
| Unique Visitors (millions) [SUP]1[/SUP] | 30.2 | 29.2 | 31.4 | ||||||||
| Number of Orders - E-commerce only (thousands) | 544 | 523 | 559 | ||||||||
| Number of Orders - Online Marketplace (thousands) | 315 | 276 | 322 | ||||||||
| Total Number of Internet Orders (thousands) | 859 | 799 | 881 | ||||||||
| Revenue Capture (% Sales) [SUP]2[/SUP] | 84.0 | % | 85.7 | % | 85.5 | % | |||||
| Average Order Value - E-commerce only | $ | 109 | $ | 112 | $ | 106 | |||||
| Average Order Value - Online Marketplace | $ | 71 | $ | 71 | $ | 72 | |||||
| Average Order Value - Total Internet Orders | $ | 95 | $ | 98 | $ | 94 | |||||
| 1. | Excludes online marketplaces and media properties (e.g. AutoMD). |
| 2. | Revenue capture is the amount of actual dollars retained after taking into consideration returns, credit card declines and product fulfillment and excludes online marketplaces and media properties (e.g. AutoMD). |
2016 Outlook
U.S. Auto Parts continues to expect net sales to be up low to mid-single digits on a percentage basis compared to 2015, and Adjusted EBITDA to range between $13.0 and $15.0 million, an improvement from U.S. Auto Parts' previously issued Adjusted EBITDA outlook.
Conference Call
U.S. Auto Parts will conduct a conference call today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss its financial results for the second quarter ended July 2, 2016.
The company's CEO Shane Evangelist and CFO Neil Watanabe will host the conference call, followed by a question and answer period.
Date: Monday, August 8, 2016
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877-407-9039
International dial-in number: 201-689-8470
Conference ID: 13640390
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios at 1-949-574-3860.
The conference call will be broadcast live and available for replay via the investor relations section of the company's website at www.usautoparts.net.
A telephone replay of the conference call will also be available on the same day through August 22, 2016.
Toll-free replay number: 877-870-5176
International replay number: 858-384-5517
Replay ID: 13640390
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision , engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship http://finance.yahoo.com/news/u-aut...d-200100003.html?soc_src=social-sh&soc_trk=ma
http://seekingalpha.com/article/399...-2016-results-earnings-call-transcript?page=1
With the continued improvement in the financial results, our revolver debt has been eliminated and we have $2 million in cash. Last year at this time, our revolver debt was at $8 million with $1 million in cash, which amounts to a $9 million improvement in net debt to cash over the last 12 months. Besides our free cash flow from operations being used to reduce debt, we continue to demonstrate strong expense management and have built confidence with our vendor community. This has translated into improved payable terms, further contributing to the elimination of debt. We believe these factors will continue to drive our improved cash position as we go forward.
Over the last 24 months, we have significantly increased our private label offerings, reduce our dependency on organic search, almost doubled our trailing 12-month adjusted EBITDA, and completely eliminated our revolver debt.
We also believe we are well positioned to take advantage of several industry tailwinds. Online auto parts purchases are anticipated to grow over 50% annually according to 2016 Digital Auto Care fact book. In addition, we continue to see miles driven and the average age of vehicles increase with gas prices remaining at relatively low levels.
With the continued improvement in the financial results, our revolver debt has been eliminated and we have $2 million in cash. Last year at this time, our revolver debt was at $8 million with $1 million in cash, which amounts to a $9 million improvement in net debt to cash over the last 12 months. Besides our free cash flow from operations being used to reduce debt, we continue to demonstrate strong expense management and have built confidence with our vendor community. This has translated into improved payable terms, further contributing to the elimination of debt. We believe these factors will continue to drive our improved cash position as we go forward.
Over the last 24 months, we have significantly increased our private label offerings, reduce our dependency on organic search, almost doubled our trailing 12-month adjusted EBITDA, and completely eliminated our revolver debt.
We also believe we are well positioned to take advantage of several industry tailwinds. Online auto parts purchases are anticipated to grow over 50% annually according to 2016 Digital Auto Care fact book. In addition, we continue to see miles driven and the average age of vehicles increase with gas prices remaining at relatively low levels.
lets get those highs ! Lafitte Capital Management LP appears to have added to its $PRTS position in the most recent quarter http://www.conferencecalltranscripts.org/summaryh/?id=3005313
https://youtu.be/I51E6DyYtHc
added at 3.65
12 million shares registered for sale
Major cost savings doing this bulk regsiration.
None of the stock has been sold, but spooking the market
sorry for the market
could this be a precursor top them putting themselves up for sale ?
Company is doing great,no debt , think people, think
12 million shares registered for sale
Major cost savings doing this bulk regsiration.
None of the stock has been sold, but spooking the market
sorry for the market
could this be a precursor top them putting themselves up for sale ?
Company is doing great,no debt , think people, think
