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Corporate News Blog - Dorman Products Completes Acquisition of MAS Automotive Distribution

Research Desk Line-up: Dana Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Dorman Products, Inc. (NASDAQ: DORM), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=DORM. The Company announced on October 27, 2017, that it has closed on the acquisition of MAS Automotive Distribution Inc. ("MAS Industries"), which is a premium chassis parts and control arm Company. This deal highlights Dorman Products' focus on aftermarket leadership in the chassis and suspension categories. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Auto Parts industry. Pro-TD has currently selected Dana Incorporated (NYSE: DAN) for due-diligence and potential coverage as the Company announced on October 26, 2017, its financial results for Q3 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Dana when we publish it.

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MAS Industries, Leader in Chassis Parts and Control Arm

MAS Industries have been producing premium quality chassis, steering, and suspension and alignment components for the automotive aftermarket in the US, Canada, and Mexico for more than 20 years. MAS Industries, which is headquartered in Montreal, Canada, also provides designing and engineering services. In fact, the Company has established itself as a leader in best-in-class product innovation, chassis development, extensive coverage, and innovative cataloging.

It is projected that MAS Industries would generate net sales of approximately $40 million for the twelve months ending December 30, 2017.

Improved Offerings for Dorman Products' Customers

Dorman Products is renowned as a leading supplier of Dealer Exclusive replacement parts to the automotive, medium and heavy duty aftermarkets. Its products are marketed under brand names such as Dorman®, OE Solutions™, HELP!®, AutoGrade™, First Stop™, Conduct‑Tite®, TECHoice™, Dorman® Hybrid Drive Batteries, and Dorman HD Solutions™.

Matt Barton, President and Chief Executive Officer (CEO) at Dorman Products, shared his views about the acquisition of MAS Industries. In his opinion, the acquisition implies Dorman Products' commitment to aftermarket leadership in the chassis and suspension categories.

He believes that the new partnership would generate numerous future opportunities for Dorman Products. The acquisition would enable the Company to provide the most comprehensive aftermarket chassis offerings to its customers. Actually, Dorman Products' full-line of Premium Chassis and Control Arms will make a perfect combination with MAS Industries' chassis and control arms coverage of premium value and fleet full-line programs for all makes.

Barton also looks forward to meeting all the customers of MAS Industries next week at AWDA and AAPEX in Las Vegas.

Dorman Products Announces Third Quarter 2017 Results

Dorman Products reported sales and earnings results on October 27, 2017, for the third quarter of the fiscal year 2017 ending September 30, 2017.

  • Net sales increased by $11.8 million, or 5.6%, to $224.6 million for Q3 2017 from $212.8 million for Q3 2016.
  • Gross profit reached $88.1 million, or 39.2% of net sales, for the reported quarter, up 6% from $83.1 million, or 39.1% of net sales, in the third quarter of 2016.
  • Similarly, diluted earnings per share (EPS) reached $0.80 for the third quarter ending September 30, 2017, an increment of 3.9% from $0.77 per share for the same period of last year.
  • However, operating cash flow was $17.4 million in Q3 2017 compared to $19.0 million in Q3 2016.

Last Close Stock Review

At the closing bell, on Friday, October 27, 2017, Dorman Products' stock slipped 3.87%, ending the trading session at $68.26. A total volume of 360.63 thousand shares have exchanged hands, which was higher than the 3-month average volume of 160.26 thousand shares. The Company's stock price advanced 9.50% in the previous twelve months. The stock is trading at a PE ratio of 20.82 and currently, has a market cap of $2.42 billion.

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SOURCE: Pro-Trader Daily