Motorcar Parts of America Inc. on Monday said that it moved to a profit in its fiscal fourth quarter on stronger sales. The results exceeded Wall Street expectations.

The Los Angeles company reported net income of nearly $2.9 million (24 cents per share) for the quarter ended March 31, compared with a loss of $1.18 million (-10 cents) a year earlier. Net sales rose 29 percent to $38.6 million.

Analysts surveyed by Thomson Reuters on average expected per-share earnings of 15 cents on revenue of $34.6 million.

“Our performance for the quarter validates our belief that as we continue to grow market share, operating performance is enhanced with very little incremental expenditure,” said Chief Executive Selwyn Joffe in a statement.

The company remanufactures alternators and starters for cars and trucks.

Shares closed up 57 cents, or 0 percent, to $6.85 on the Nasdaq.