Dorman Products, Inc. (NASDAQ:DORM) Files An 8-K Results of Operations and Financial Condition
Item2.02.
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Results of Operation and Financial Condition. |
The information being furnished in this Item2.02 and in Exhibit
99.1 shall not be deemed filed for the purposes of Section18 of
the Securities Exchange Act of 1934, as amended, or incorporated
by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act except as shall be expressly set
forth by specific reference in such filing.
On May2, 2017, Dorman Products, Inc. (the Company) issued a press
release announcing its operating results for the first quarter
ended April1, 2017. A copy of the press release is attached
hereto as Exhibit 99.1 and incorporated by reference herein.
Certain statements in this document constitute forward-looking
statements within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. While forward-looking statements
sometimes are presented with numerical specificity, they are
based on various assumptions made by management regarding future
circumstances over many of which the Company has little or no
control. Forward-looking statements may be identified by words
including anticipate, believe, estimate, expect, and similar
expressions. The Company cautions readers that forward-looking
statements, including, without limitation, those relating to
future business prospects, revenues, working capital, liquidity,
and income, are subject to certain risks and uncertainties that
would cause actual results to differ materially from those
indicated in the forward-looking statements. Factors that could
cause actual results to differ from forward-looking statements
include but are not limited to: (i)competition in the automotive
aftermarket; (ii)unfavorable economic conditions; (iii)the loss
or decrease in sales among one of our top customers; (iv)customer
consolidation in the automotive aftermarket leading to less
favorable customer contract terms; (v)foreign currency
fluctuations and our dependence on foreign suppliers;
(vi)extended credit to customers who may be unable to pay;
(vii)the loss of a key vendor; (viii)limited customer shelf
space; (ix)reliance on new product development; (x)claims of
intellectual property infringement made by original equipment
manufacturers; (xi)quality problems with product after their
production and sale to customers; (xii)loss of third party
transportation providers on whom we depend; (xiii)unfavorable
results of legal proceedings; (xiv)no history of paying regular
dividends and no intent to do so; (xv)our executive chairman and
his family own a significant portion of the company;
(xvi)operations may be subject to quarter fluctuations and
disruptions from events beyond our control; (xvii)regulations
related to conflict minerals could adversely impact our business;
(xviii)cyber-attacks could adversely impact our business;
(xix)imposition of new taxes or duties could adversely affect our
business; and (xx)exposure to risks related to accounts
receivable. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated,
estimated or projected. For additional information concerning
factors that could cause actual results to differ materially from
the information contained in this report, reference is made to
the information in Part I, Item 1A Risk Factors in the Companys
Annual Report on Form 10-K for the fiscal year ended December31,
2016. You should not place undue reliance on forward-looking
statements. Such statements speak only as to the date on which
they are made, and we undertake no obligation to update publicly
or revise any forward-looking statement, regardless of future
developments or availability of new information.
| Item9.01 | Financial Statements and Exhibits. |
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Exhibit Number |
Description | |
| 99.1 | Press Release dated May2, 2017 |
About Dorman Products, Inc. (NASDAQ:DORM)
Dorman Products, Inc. (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners. The Company groups its products into approximately four classes, such as power-train, including intake and exhaust manifolds, and harmonic balancers; automotive body, including window lift motors and window regulators; chassis, including suspension arms and knuckles, and hardware, including threaded bolts. Dorman parts are marketed under the OE Solutions, HELP!, TECHoice, AutoGrade, Conduct-Tite, FirstStop and HD Solutions brand names. A majority of the Company’s products are sold under brands that it owns. Dorman Products, Inc. (NASDAQ:DORM) Recent Trading Information
Dorman Products, Inc. (NASDAQ:DORM) closed its last trading session up +3.33 at 86.19 with 312,290 shares trading hands.