-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BE9MSIGA3vnev8VfI6VS2af7O6tFi6yQvX99aBfMislOGbY05K454KymZ3rEPlPa Be85tDgZY94hyGjo+nA6+g== 0000950134-06-012576.txt : 20060703 0000950134-06-012576.hdr.sgml : 20060703 20060703060248 ACCESSION NUMBER: 0000950134-06-012576 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060628 ITEM INFORMATION: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review FILED AS OF DATE: 20060703 DATE AS OF CHANGE: 20060703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOTORCAR PARTS AMERICA INC CENTRAL INDEX KEY: 0000918251 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 112153962 STATE OF INCORPORATION: NY FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23538 FILM NUMBER: 06939466 BUSINESS ADDRESS: STREET 1: 2929 CALIFORNIA STREET CITY: TORRANCE STATE: CA ZIP: 90503 BUSINESS PHONE: 3109724057 MAIL ADDRESS: STREET 1: 2929 CALIFORNIA STREET CITY: TORRANCE STATE: CA ZIP: 90503 FORMER COMPANY: FORMER CONFORMED NAME: MOTORCAR PARTS & ACCESSORIES INC DATE OF NAME CHANGE: 19940128 8-K 1 v21888e8vk.htm FORM 8-K e8vk
 

 
 
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): June 28, 2006
Motorcar Parts of America, Inc.
(Exact name of registrant as specified in its charter)
         
New York   0-23538   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
     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 14a-12 under the Exchange Act (17 CFR 240.14a-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 4.02(a). Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
On June 28, 2006, Motorcar Parts of America, Inc. (“MPA”) concluded that its previously issued unaudited quarterly financial statements for fiscal 2005 and fiscal 2006 should no longer be relied upon as all of these quarterly financial statements contain certain errors. This conclusion was reached during the course of the audit of MPA’s financial statements for the year ended March 31, 2006, and MPA continues to evaluate the overall impact on its previously issued quarterly reports. The errors resulted in understated revenue from core sales, an over-statement of the related cost of goods sold, an understatement of the stock adjustment allowance and an overstatement of expected core returns from POS sales. The impact of these errors is expected to result in a material change in all of MPA’s previously reported quarterly financial results for fiscal 2005 and fiscal 2006 quarterly periods.
On June 30, 2006, MPA’s board of directors and audit committee discussed with Grant Thornton LLP, MPA’s independent accountants, the matters disclosed herein.
MPA expects to file its Form 10-K no later than the fifteenth calendar day following the June 29, 2006 filing deadline. The Form 10-K as filed will contain the corrected quarterly information for both fiscal 2005 and 2006.
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: June 30, 2006  /s/ Mervyn McCulloch    
  Mervyn McCulloch   
  Chief Financial Officer   
 

 

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