MPAA - Motorcar Parts and Accessories Message Board

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Non-Tech : MPAA - Motorcar Parts and Accessories

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To: Bilow who wrote ()	6/11/1999 11:48:00 AM
From: Bilow	Read Replies (1) of 5

MPAA's recent dive into single digits is no doubt associated with this press release: TORRANCE, Calif., May 24 /PRNewswire/ -- Motorcar Parts & Accessories, Inc. (Nasdaq: MPAA - news), today announced that it expects to report a significant loss for the fourth quarter of its fiscal year ended March 31, 1999. The Company anticipates that it may report a loss for the entire fiscal year. The Company's independent auditors are continuing their year-end audit. biz.yahoo.com Now the stock is trading at a P/E of 5.56, a P/B of 0.49, and a P/S of 0.28. Of course these figures don't take into account the above preannouncement. The year's earnings may disappear, but the book value is unlikely to be significantly changed. Seems cheap... I picked up 100 shares at $6 under the hope that the announced loss is a one-time sort of thing. So I'm expecting to sell at around $8 to $9, if I'm lucky, sometime in the summer of 1999. Comments anyone? -- Carl

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