U.S. Auto Parts Network Inc. (PRTS, Financial) filed Quarterly Report for the period ended 2009-10-03.
US AUTO PARTS NETWORK INC. is a leading online provider of automotive aftermarket parts including body parts engine parts performance parts and accessories. Through the Company's network of websites U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes models and years. U.s. Auto Parts Network Inc. has a market cap of $147.2 million; its shares were traded at around $4.93 with a P/E ratio of 493 and P/S ratio of 0.9.
Online marketplace net sales decreased $0.1 million or 2.6% from $5.3 million for the three months ended September 30, 2008 to $5.2 million for the thirteen weeks ended October 3, 2009. This decrease was primarily due to lower unique visitors in 2009. Online marketplace net sales decreased 7.5% from $16.2 million for the nine months ended September 30, 2008 to $15.0 million for the thirty-nine weeks ended October 3, 2009. The 7.4% decrease was due to less traffic on our eBay auctions in 2009. Excluding the three additional days, online marketplace net sales on a calendar basis would have been $14.8 million for the current nine month period or an 8.6% decrease over the prior year.
Net sales from our offline business, which consist of sales from our Kool-VueTM and wholesale operations, increased $0.2 million or 8.2% to $2.9 million for the thirteen weeks ended October 3, 2009 due to an increase in our customer base. Offline sales decreased $1.6 million or 14.9% to $9.0 million for the thirty-nine weeks ended October 3, 2009 primarily due to the loss of sales to a large customer in the third quarter of 2008. We anticipate that sales from our offline operations will decline as a percentage of net sales in the future due to our continued focus in growing our online business. Excluding the three additional days, offline net sales on a calendar basis would have been $8.9 million for the current nine month period or a 15.6% decrease over the prior year.
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US AUTO PARTS NETWORK INC. is a leading online provider of automotive aftermarket parts including body parts engine parts performance parts and accessories. Through the Company's network of websites U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes models and years. U.s. Auto Parts Network Inc. has a market cap of $147.2 million; its shares were traded at around $4.93 with a P/E ratio of 493 and P/S ratio of 0.9.
Highlight of Business Operations:
E-commerce net sales increased $9.9 million or 35.2% from $28.1 million for the three months ended September 30, 2008 to $38.0 million for the thirteen weeks ended October 3, 2009. The total number of placed orders in our e-commerce channel increased from 291,000 orders in the third quarter of 2008 to 386,000 orders in the third quarter of 2009 primarily due to an increase in unique visitors and a higher conversion rate. E-commerce sales increased $12.7 million or 13.9% from $91.4 million for the nine months ended September 30, 2008 to $104.1 million for the thirty-nine weeks ended October 3, 2009. The 13.9% growth was primarily due to increased unique visitors and a higher conversion rate, partially offset by a lower average order value. Excluding the three additional days, e-commerce sales on a calendar basis would have been $103.1 million for the current nine month period or a 12.8% increase over the prior year.Online marketplace net sales decreased $0.1 million or 2.6% from $5.3 million for the three months ended September 30, 2008 to $5.2 million for the thirteen weeks ended October 3, 2009. This decrease was primarily due to lower unique visitors in 2009. Online marketplace net sales decreased 7.5% from $16.2 million for the nine months ended September 30, 2008 to $15.0 million for the thirty-nine weeks ended October 3, 2009. The 7.4% decrease was due to less traffic on our eBay auctions in 2009. Excluding the three additional days, online marketplace net sales on a calendar basis would have been $14.8 million for the current nine month period or an 8.6% decrease over the prior year.
Net sales from our offline business, which consist of sales from our Kool-VueTM and wholesale operations, increased $0.2 million or 8.2% to $2.9 million for the thirteen weeks ended October 3, 2009 due to an increase in our customer base. Offline sales decreased $1.6 million or 14.9% to $9.0 million for the thirty-nine weeks ended October 3, 2009 primarily due to the loss of sales to a large customer in the third quarter of 2008. We anticipate that sales from our offline operations will decline as a percentage of net sales in the future due to our continued focus in growing our online business. Excluding the three additional days, offline net sales on a calendar basis would have been $8.9 million for the current nine month period or a 15.6% decrease over the prior year.
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