Dorman Products Earnings: Here’s Why Investors Like These Results

Dorman Products, Inc. (NASDAQ:DORM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.57%.

Dorman Products, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 20.45% to $0.53 in the quarter versus EPS of $0.44 in the year-earlier quarter.

Revenue: Rose 12.58% to $162.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Dorman Products, Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company missed the mean analyst estimate of $0.54. It beat the average revenue estimate of $161.47 million.

Quoting Management: “Our growth continues to be fueled by our new product introductions, as 21% of our sales in the second quarter were from parts introduced in the last 24 months,” said Mr. Steven Berman, Chairman and Chief Executive Officer. “During the first half of 2013, we released nearly 1,700 new parts to the automotive aftermarket, up from 1,300 in the first half of 2012.”

Key Stats (on next page)…

Revenue increased 5.09% from $154.44 million in the previous quarter. EPS increased 1.92% from $0.52 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.64 and has not changed. For the current year, the average estimate is a profit of $2.24, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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