8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 9, 2010

Motorcar Parts of America, Inc.

(Exact name of registrant as specified in its charter)

New York	001-33861	11-2153962
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2929 California Street, Torrance, CA	90503
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (310) 212-7910

N/A

(Former name, former address and former fiscal year, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule l4a-12 under the Exchange Act (17 CFR 240.l4a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

     On August 9, 2010, Motorcar Parts of America, Inc. issued a press release announcing its earnings for the fiscal quarter ended June 30, 2010 which is being furnished as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

     The following exhibit is furnished with this Current Report pursuant to Item 2.02:

(d) Exhibits

Exhibit No.		Description
	99.1	Press Release, dated August 9, 2010

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MOTORCAR PARTS OF AMERICA, INC.
Date: August 9, 2010	/s/ Michael M. Umansky
	Michael M. Umansky
	Vice President and General Counsel

EX-99.1

Exhibit 99.1

NEWS RELEASE

CONTACT:	Gary S. Maier
	Maier & Company, Inc.
	(310) 442-9852

MOTORCAR PARTS OF AMERICA REPORTS STRONG FISCAL 2011
FIRST QUARTER RESULTS

—Net Income More Than Doubles; Sales Climb —

     LOS ANGELES, CA — August 9, 2010 — Motorcar Parts of America, Inc.

(NasdaqGM: MPAA) today reported strong results for its fiscal 2011 first quarter ended June 30, 2010, reflecting increased sales and improved productivity.

     Net income for the fiscal 2011 first quarter climbed sharply to $2.5 million, or $0.21 per diluted share, compared with net income of $1.2 million, or $0.10 per diluted share, for the comparable period a year earlier.

     Net sales for the fiscal 2011 first quarter increased 10.8 percent to $36.2 million from $32.7 million for the same period last year.

     Gross profit for the fiscal 2011 first quarter was $11.5 million compared with $7.2 million for the same period a year ago.

     Operating income for the fiscal first quarter climbed 77.4 percent to $5.4 million from $3.1 million in the same period a year ago.

     General and administrative expenses were negatively impacted by a $471,000 non-cash loss as a result of negative foreign currency fluctuations in the fiscal 2011 first quarter. The company benefitted in the same period a year earlier as a result of a non-cash gain in foreign currency fluctuations of $964,000.

     “The 2011 fiscal year is off to an excellent start, with strong sales momentum and solid profitability as the company continues to focus on operating leverage and increased usage of available capacity,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts.

Teleconference and Web Cast

     Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call today at 9:00 a.m. Pacific time to discuss the company’s financial results and operations for its fiscal 2011 first quarter. The call will be open to all interested investors either through a live audio Web broadcast at www.motorcarparts.com or live by calling (877)-776-4016 (domestic) or (973)-638-3231 (international). For those who are not available to listen to the

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Tribecca Plaza • 12233 West Olympic Boulevard Suite 258 • Los Angeles, California 90064

telephone 310.442.9852

facsimile 310.442.9855

Motorcar Parts of America, Inc.
2-2-2

live broadcast, the call will be archived for seven days on Motorcar Parts of America’s website. A telephone playback of the conference call will also be available from approximately 12:00 noon Pacific time today through 8:59 p.m. Pacific time on Monday, August 16, 2010 by calling (800)-642-1687 (domestic) or (706)-645-9291 (international) and using access code: 90707301.

About Motorcar Parts of America

     Motorcar Parts of America, Inc. is a remanufacturer of alternators and starters utilized in imported and domestic passenger vehicles, light trucks and heavy duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with remanufacturing facilities located in California, Mexico and Malaysia, and administrative offices located in California, Tennessee, Mexico, Singapore and Malaysia. Additional information is available at www.motorcarparts.com.

     The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2010 and in its Form 10-Q filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

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(Financial tables follow)

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MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited)

	Three Months Ended
	June 30,
	2010		2009
Net sales	$	36,234,000	$	32,690,000
Cost of goods sold		24,689,000		25,519,000
Gross profit		11,545,000		7,171,000
Operating expenses:
General and administrative		4,024,000		2,512,000
Sales and marketing		1,740,000		1,272,000
Research and development		366,000		334,000
Total operating expenses		6,130,000		4,118,000
Operating income		5,415,000		3,053,000
Other expense:
Interest expense		1,602,000		996,000
Income before income tax expense		3,813,000		2,057,000
Income tax expense		1,293,000		862,000
Net income	$	2,520,000	$	1,195,000
Basic net income per share	$	0.21	$	0.10
Diluted net income per share	$	0.21	$	0.10
Weighted average number of shares outstanding:
Basic		12,049,057		11,962,021
Diluted		12,204,319		12,071,451

MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES
Consolidated Balance Sheets

	June 30, 2010			March 31, 2010
	(Unaudited)
ASSETS
Current assets:
Cash	$	1,759,000		$	1,210,000
Short-term investments		232,000			451,000
Accounts receivable — net		3,267,000			5,553,000
Inventory— net		30,018,000			31,547,000
Inventory unreturned		4,664,000			3,924,000
Deferred income taxes		8,436,000			8,391,000
Prepaid expenses and other current assets		1,906,000			2,735,000
Total current assets		50,282,000			53,811,000
Plant and equipment — net		11,879,000			12,693,000
Long-term core inventory		70,646,000			67,957,000
Long-term core inventory deposit		25,768,000			25,768,000
Long-term deferred income taxes		720,000			951,000
Intangible assets — net		6,110,000			6,304,000
Other assets		1,604,000			1,549,000
TOTAL ASSETS	$	167,009,000		$	169,033,000
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	27,185,000		$	31,603,000
Accrued liabilities		1,377,000			1,863,000
Accrued salaries and wages		2,423,000			3,590,000
Accrued workers’ compensation claims		1,435,000			1,574,000
Customer finished goods returns accrual		7,481,000			7,454,000
Income tax payable		1,624,000			678,000
Revolving loan		1,800,000			—
Other current liabilities		468,000			697,000
Current portion of term loan		2,000,000			2,000,000
Current portion of capital lease obligations		580,000			953,000
Total current liabilities		46,373,000			50,412,000
Term loan, less current portion		7,000,000			7,500,000
Deferred core revenue		6,197,000			6,061,000
Deferred gain on sale-leaseback		188,000			319,000
Other liabilities		607,000			676,000
Capital lease obligations, less current portion		365,000			445,000
Total liabilities		60,730,000			65,413,000
Commitments and contingencies
Shareholders’ equity:
Preferred stock; par value $.01 per share, 5,000,000 shares authorized; none issued		—			—
Series A junior participating preferred stock; par value $.01 per share, 20,000 shares authorized; none issued		—			—
Common stock; par value $.01 per share, 20,000,000 shares authorized; 12,052,271 and 12,026,021 shares issued and outstanding at June 30, 2010 and March, 31 2010, respectively		121,000			120,000
Additional paid-in capital		92,926,000			92,792,000
Additional paid-in capital-warrant		1,879,000			1,879,000
Accumulated other comprehensive loss		(1,422,000	)		(1,426,000	)
Retained earnings		12,775,000			10,255,000
Total shareholders’ equity		106,279,000			103,620,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	167,009,000		$	169,033,000