Shares of Motorcar Parts of America Inc. jumped more than 25 percent on Tuesday after the maker and distributor of aftermarket automobile parts reported fiscal second-quarter profit.
The Torrance company reported net income was $2.16 million (15 cents a share), compared with a loss of $8.93 million (-62 cents) in the same period a year earlier. Net sales rose 15 percent to nearly $66.2 million.
Chief Executive Selwyn Joffe said the company is benefiting from a trend toward car owners keeping their vehicles for more than a decade, citing a Polk survey showing the average ages of vehicles has increased to 11.4 years.
Shares closed up $3.37, or 26 percent, to $16.58 on the Nasdaq.
Shares of Aecom Technology Corp. fell more than 7 percent on Tuesday after the construction management company reported an improved fiscal fourth quarter but gave an outlook for next year that missed Wall Street projections.
The Los Angeles company reported net income of $76.6 million (77 cents a share), compared with a net loss of $225 million (-$2.05) a year earlier, when the results were affected by a goodwill impairment charge. Revenue fell less than 1 percent to $2.08 billion. Analysts surveyed by FactSet on average expected profit of 79 cents a share on revenue of $2.06 billion.
For its 2014 fiscal year, Aecom expects profit of between $2.35 and $2.45 a share, lower than the Wall Street consensus of $2.68.
Shares closed down $2.34, or 7.5 percent, to $28.96 on the New York Stock Exchange.
Shares of RealD Inc. rose 20 percent in after-hours trading Tuesday after the 3-D film technology company reported a second quarter loss that was smaller than analysts had expected.
After the markets closed, the Beverly Hills licensing company reported a net loss of $4.7 million (9 cents a share), compared with a loss of $4.2 million (8 cents) a year earlier. Revenue fell 20 percent $43.9 million.
Analysts surveyed by Capital IQ had expected a loss of 19 cents a share on revenue of $42.9 million.
Shares earlier closed unchanged at $7 in regular trading on the New York Stock Exchange
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Motorcar Parts’ Quarter Beats Expectations
- 3D Tech Company RealD Moves to Profit
- RealD Shares Rise on Better-Than-Expected Quarter
- Motorcar Parts Reverses Quarterly Loss
- RealD Reports Smaller Quarterly Loss
- Better-Than-Expected Profit at Motorcar Parts
- Motorcar Parts Reports Loss Despite Sales Growth
- Aecom’s Quarter Better Than Expected