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Exhibit 99.1
For Immediate Release
For more information, contact:
James J. Burke
Standard Motor Products, Inc.
(718) 392-0200
Standard Motor Products, Inc. Announces
Third Quarter 2018 Results and a Quarterly Dividend
New York, NY, October 26, 2018......Standard Motor Products, Inc. (NYSE: SMP), an automotive replacement parts manufacturer and distributor,
reported today its consolidated financial results for the three months and nine months ending September 30, 2018.
Consolidated net sales for the third quarter of 2018 were $296.6 million, compared to consolidated net sales of $281.1 million during the comparable
quarter in 2017. Earnings from continuing operations for the third quarter of 2018 were $19.3 million or 84 cents per diluted share, compared to $17.1 million or 74 cents per diluted share in the third quarter of 2017. Excluding non-operational
gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the third quarter of 2018 were $19.1 million or 83 cents per diluted share, compared to $17.2 million or 74 cents per
diluted share in the third quarter of 2017.
37-18 Northern Blvd., Long Island City, NY 11101
(718) 392-0200
www.smpcorp.com
Consolidated net sales for the nine month period ended September 30, 2018, were $845.1 million, compared to consolidated net sales of $876.2 million during
the comparable period in 2017. Earnings from continuing operations for the nine month period ended September 30, 2018, were $44.7 million or $1.95 per diluted share, compared to $51.7 million or $2.22 per diluted share in the comparable period
of 2017. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the nine months ended September 30, 2018, and 2017 were $46.7 million or $2.03
per diluted share and $53.2 million or $2.28 per diluted share, respectively.
Mr. Eric P. Sills, Standard Motor Products’ Chief Executive Officer and President, stated, “We are pleased with our performance in the quarter. After a
challenging first half, which was largely impacted by temporary or timing-related issues, our third quarter showed positive signs of recovery. We believe this trend will continue for the balance of the year.
“Engine Management sales were essentially flat for the quarter. Our Wire and Cable product line, which is in gradual decline, was down 6.7%, while the balance
of our Engine Management business showed an increase of 2.3%. Both of these trends are in line with our stated expectations. Meanwhile, excluding Wire and Cable, our customers have been reporting solid POS gains all year, which in the third quarter
were up in the mid-single digits over 2017.
“Our Engine Management gross margin in the third quarter showed a 50 basis point improvement over the second quarter, as we are now beginning to see the
gradual improvement in our efficiencies as we fully integrate the General Cable operation into our Reynosa, Mexico facility. While there remains much to be done, we are pleased to see this trending in the right direction.
“Year-to-date our Engine Management net sales were 4.9% below 2017 overall, and 3.2% below 2017 excluding Wire and Cable. As previously reported,
the shortfall in the first half of the year was due to a few customers placing large pipeline orders in 2017 that were not repeated this year.
“Turning to Temperature Control, sales rebounded very strongly in the quarter, up 18.4% from last year. This was the result of a warm summer,
compared to a mild summer in 2017. Sales year-to-date are essentially flat as compared to 2017. As previously reported, our first half sales lagged 2017 by almost 11%, as our customers entered 2018 with above normal inventory levels, and therefore
placed substantially lower pre-season orders this year.
“The warm weather continued into autumn, which bodes well not just for this year’s sales, but for next year’s pre-season orders as well, as we
expect our customers to end the year with lower than typical inventories.
“Temperature Control gross margin increased to 27.6% for the quarter, up from 26.8% from last year. This reflects the fact that we are now
essentially fully low cost in our manufacturing, having exited our Texas operations in 2017. However, much of the gross margin improvement was negated by incremental SG&A associated with higher than usual distribution expenses. These increases
were due to a combination of significant additional labor costs to keep up with the surge in sales, as well as start-up costs related to the installation of a new automation project in our distribution center. We believe this project will be
complete and fully optimized by year-end, and we will see substantial improvement next year.
“In closing, while we recognize that there is still a great deal of work ahead of us, we are pleased with the quarter, and feel that the temporary issues that
have recently had a negative impact on us are either waning or are in the past. Coupled with strong signs of customer sell-through and industry health in general, we are excited about the future.”
The Board of Directors has approved payment of a quarterly dividend of 21 cents per share on the common stock outstanding. The dividend will be paid on
December 3, 2018 to stockholders of record on November 15, 2018.
Standard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Friday, October 26, 2018. The dial-in number is 866-342-8591
(domestic) or 203-518-9713 (international). The playback number is 800-839-5125 (domestic) or 402-220-1502 (international). The conference ID # is STANDARD.
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that
any forward-looking statements made by the company, including those that may be made in this press release, are based on management’s expectations at the time they are made, but they are subject to risks and uncertainties that may cause actual
results, events or performance to differ materially from those contemplated by such forward looking statements. Among the factors that could cause actual results, events or performance to differ materially from those risks and uncertainties
discussed in this press release are those detailed from time-to-time in prior press releases and in the company’s filings with the Securities and Exchange Commission, including the company’s annual report on Form 10-K and quarterly reports on Form
10-Q. By making these forward-looking statements, Standard Motor Products undertakes no obligation or intention to update these statements after the date of this release.
STANDARD MOTOR PRODUCTS, INC.
Consolidated Statements of Operations
(In thousands, except per share amounts)
|
THREE MONTHS ENDED
SEPTEMBER 30,
|
NINE MONTHS ENDED
SEPTEMBER 30,
|
|||||||||||||||
|
2018
|
2017
|
2018
|
2017
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
NET SALES
|
$
|
296,619
|
$
|
281,058
|
$
|
845,081
|
$
|
876,165
|
||||||||
|
COST OF SALES
|
209,313
|
198,523
|
603,897
|
618,854
|
||||||||||||
|
GROSS PROFIT
|
87,306
|
82,535
|
241,184
|
257,311
|
||||||||||||
|
SELLING, GENERAL & ADMINISTRATIVE EXPENSES
|
60,137
|
54,963
|
175,604
|
172,726
|
||||||||||||
|
RESTRUCTURING AND INTEGRATION EXPENSES
|
6
|
1,132
|
3,073
|
3,914
|
||||||||||||
|
OTHER INCOME, NET
|
15
|
316
|
328
|
946
|
||||||||||||
|
OPERATING INCOME
|
27,178
|
26,756
|
62,835
|
81,617
|
||||||||||||
|
OTHER NON-OPERATING INCOME, NET
|
351
|
482
|
800
|
2,372
|
||||||||||||
|
INTEREST EXPENSE
|
1,254
|
595
|
3,137
|
1,785
|
||||||||||||
|
EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES
|
26,275
|
26,643
|
60,498
|
82,204
|
||||||||||||
|
PROVISION FOR INCOME TAXES
|
7,002
|
9,535
|
15,801
|
30,468
|
||||||||||||
|
EARNINGS FROM CONTINUING OPERATIONS
|
19,273
|
17,108
|
44,697
|
51,736
|
||||||||||||
|
LOSS FROM DISCONTINUED OPERATION, NET OF INCOME TAXES
|
(3,524
|
)
|
(3,983
|
)
|
(5,014
|
)
|
(5,113
|
)
|
||||||||
|
NET EARNINGS
|
$
|
15,749
|
$
|
13,125
|
$
|
39,683
|
$
|
46,623
|
||||||||
|
NET EARNINGS PER COMMON SHARE:
|
||||||||||||||||
|
BASIC EARNINGS FROM CONTINUING OPERATIONS
|
$
|
0.86
|
$
|
0.75
|
$
|
1.99
|
$
|
2.27
|
||||||||
|
DISCONTINUED OPERATION
|
(0.16
|
)
|
(0.17
|
)
|
(0.22
|
)
|
(0.22
|
)
|
||||||||
|
NET EARNINGS PER COMMON SHARE - BASIC
|
$
|
0.70
|
$
|
0.58
|
$
|
1.77
|
$
|
2.05
|
||||||||
|
DILUTED EARNINGS FROM CONTINUING OPERATIONS
|
$
|
0.84
|
$
|
0.74
|
$
|
1.95
|
$
|
2.22
|
||||||||
|
DISCONTINUED OPERATION
|
(0.15
|
)
|
(0.17
|
)
|
(0.22
|
)
|
(0.22
|
)
|
||||||||
|
NET EARNINGS PER COMMON SHARE - DILUTED
|
$
|
0.69
|
$
|
0.57
|
$
|
1.73
|
$
|
2.00
|
||||||||
|
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
|
22,424,962
|
22,660,157
|
22,464,697
|
22,774,927
|
||||||||||||
|
WEIGHTED AVERAGE NUMBER OF COMMON AND DILUTIVE SHARES
|
22,938,925
|
23,174,700
|
22,954,649
|
23,287,052
|
||||||||||||
STANDARD MOTOR PRODUCTS, INC.
Segment Revenues and Operating Income
(In thousands)
|
THREE MONTHS ENDED
SEPTEMBER 30, |
NINE MONTHS ENDED
SEPTEMBER 30, |
|||||||||||||||||||||||||||
|
2018
|
2017
|
2018
|
2017
|
|||||||||||||||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||||||||||||||
|
Revenues
|
||||||||||||||||||||||||||||
|
Ignition, Emission and Fuel System Parts
|
$
|
159,101
|
$
|
155,544
|
$
|
482,640
|
$
|
498,802
|
||||||||||||||||||||
|
Wire and Cable
|
38,469
|
41,232
|
117,847
|
132,637
|
||||||||||||||||||||||||
|
Engine Management
|
197,570
|
196,776
|
600,487
|
631,439
|
||||||||||||||||||||||||
|
Compressors
|
54,842
|
44,733
|
131,680
|
132,278
|
||||||||||||||||||||||||
|
Other Climate Control Parts
|
41,237
|
36,427
|
105,000
|
106,563
|
||||||||||||||||||||||||
|
Temperature Control
|
96,079
|
81,160
|
236,680
|
238,841
|
||||||||||||||||||||||||
|
All Other
|
2,970
|
3,122
|
7,914
|
5,885
|
||||||||||||||||||||||||
|
Revenues
|
$
|
296,619
|
$
|
281,058
|
$
|
845,081
|
$
|
876,165
|
||||||||||||||||||||
|
Gross Margin
|
||||||||||||||||||||||||||||
|
Engine Management
|
$
|
57,188
|
28.9
|
%
|
$
|
57,808
|
29.4
|
%
|
$
|
171,440
|
28.6
|
%
|
$
|
187,531
|
29.7
|
%
|
||||||||||||
|
Temperature Control
|
26,523
|
27.6
|
%
|
21,721
|
26.8
|
%
|
60,990
|
25.8
|
%
|
62,539
|
26.2
|
%
|
||||||||||||||||
|
All Other
|
3,595
|
3,006
|
8,754
|
7,241
|
||||||||||||||||||||||||
|
Gross Margin
|
$
|
87,306
|
29.4
|
%
|
$
|
82,535
|
29.4
|
%
|
$
|
241,184
|
28.5
|
%
|
$
|
257,311
|
29.4
|
%
|
||||||||||||
|
Selling, General &
Administrative
|
||||||||||||||||||||||||||||
|
Engine Management
|
$
|
35,553
|
18.0
|
%
|
$
|
34,289
|
17.4
|
%
|
$
|
106,415
|
17.7
|
%
|
$
|
108,497
|
17.2
|
%
|
||||||||||||
|
Temperature Control
|
17,961
|
18.7
|
%
|
13,665
|
16.8
|
%
|
46,511
|
19.7
|
%
|
41,215
|
17.3
|
%
|
||||||||||||||||
|
All Other
|
6,623
|
7,009
|
22,678
|
23,014
|
||||||||||||||||||||||||
|
Selling, General & Administrative
|
$
|
60,137
|
20.3
|
%
|
$
|
54,963
|
19.6
|
%
|
$
|
175,604
|
20.8
|
%
|
$
|
172,726
|
19.7
|
%
|
||||||||||||
|
Operating Income
|
||||||||||||||||||||||||||||
|
Engine Management
|
$
|
21,635
|
11.0
|
%
|
$
|
23,519
|
12.0
|
%
|
$
|
65,025
|
10.8
|
%
|
$
|
79,034
|
12.5
|
%
|
||||||||||||
|
Temperature Control
|
8,562
|
8.9
|
%
|
8,056
|
9.9
|
%
|
14,479
|
6.1
|
%
|
21,324
|
8.9
|
%
|
||||||||||||||||
|
All Other
|
(3,028
|
)
|
(4,003
|
)
|
(13,924
|
)
|
(15,773
|
)
|
||||||||||||||||||||
|
Subtotal
|
27,169
|
9.2
|
%
|
27,572
|
9.8
|
%
|
65,580
|
7.8
|
%
|
84,585
|
9.7
|
%
|
||||||||||||||||
|
Restructuring & Integration
|
(6
|
)
|
0.0
|
%
|
(1,132
|
)
|
-0.4
|
%
|
(3,073
|
)
|
-0.4
|
%
|
(3,914
|
)
|
-0.4
|
%
|
||||||||||||
|
Other Income, Net
|
15
|
0.0
|
%
|
316
|
0.1
|
%
|
328
|
0.0
|
%
|
946
|
0.1
|
%
|
||||||||||||||||
|
Operating Income
|
$
|
27,178
|
9.2
|
%
|
$
|
26,756
|
9.5
|
%
|
$
|
62,835
|
7.4
|
%
|
$
|
81,617
|
9.3
|
%
|
||||||||||||
STANDARD MOTOR PRODUCTS, INC.
Reconciliation of GAAP and Non-GAAP Measures
(In thousands, except per share amounts)
|
THREE MONTHS ENDED
SEPTEMBER 30, |
NINE MONTHS ENDED
SEPTEMBER 30, |
|||||||||||||||
|
2018
|
2017
|
2018
|
2017
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
EARNINGS FROM CONTINUING OPERATIONS
|
||||||||||||||||
|
GAAP EARNINGS FROM CONTINUING OPERATIONS
|
$
|
19,273
|
$
|
17,108
|
$
|
44,697
|
$
|
51,736
|
||||||||
|
RESTRUCTURING AND INTEGRATION EXPENSES
|
6
|
1,132
|
3,073
|
3,914
|
||||||||||||
|
CERTAIN TAX CREDITS AND PRODUCTION DEDUCTIONS FINALIZED IN PERIOD
|
(144
|
)
|
(463
|
)
|
(144
|
)
|
(463
|
)
|
||||||||
|
GAIN FROM SALE OF BUILDINGS
|
-
|
(262
|
)
|
(218
|
)
|
(786
|
)
|
|||||||||
|
INCOME TAX EFFECT RELATED TO RECONCILING ITEMS
|
(1
|
)
|
(348
|
)
|
(742
|
)
|
(1,251
|
)
|
||||||||
|
NON-GAAP EARNINGS FROM CONTINUING OPERATIONS
|
$
|
19,134
|
$
|
17,167
|
$
|
46,666
|
$
|
53,150
|
||||||||
|
DILUTED EARNINGS PER SHARE FROM CONTINUING
OPERATIONS
|
||||||||||||||||
|
GAAP DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS
|
$
|
0.84
|
$
|
0.74
|
$
|
1.95
|
$
|
2.22
|
||||||||
|
RESTRUCTURING AND INTEGRATION EXPENSES
|
-
|
0.05
|
0.13
|
0.16
|
||||||||||||
|
CERTAIN TAX CREDITS AND PRODUCTION DEDUCTIONS FINALIZED IN PERIOD
|
(0.01
|
)
|
(0.02
|
)
|
(0.01
|
)
|
(0.02
|
)
|
||||||||
|
GAIN FROM SALE OF BUILDINGS
|
-
|
(0.01
|
)
|
(0.01
|
)
|
(0.03
|
)
|
|||||||||
|
INCOME TAX EFFECT RELATED TO RECONCILING ITEMS
|
-
|
(0.02
|
)
|
(0.03
|
)
|
(0.05
|
)
|
|||||||||
|
NON-GAAP DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS
|
$
|
0.83
|
$
|
0.74
|
$
|
2.03
|
$
|
2.28
|
||||||||
|
OPERATING INCOME
|
||||||||||||||||
|
GAAP OPERATING INCOME
|
$
|
27,178
|
$
|
26,756
|
$
|
62,835
|
$
|
81,617
|
||||||||
|
RESTRUCTURING AND INTEGRATION EXPENSES
|
6
|
1,132
|
3,073
|
3,914
|
||||||||||||
|
OTHER INCOME, NET
|
(15
|
)
|
(316
|
)
|
(328
|
)
|
(946
|
)
|
||||||||
|
NON-GAAP OPERATING INCOME
|
$
|
27,169
|
$
|
27,572
|
$
|
65,580
|
$
|
84,585
|
||||||||
MANAGEMENT BELIEVES THAT EARNINGS FROM CONTINUING OPERATIONS, DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS, AND OPERATING INCOME, EACH OF WHICH ARE NON-GAAP MEASUREMENTS AND ARE ADJUSTED FOR SPECIAL ITEMS, ARE MEANINGFUL TO INVESTORS BECAUSE THEY PROVIDE A VIEW OF THE COMPANY WITH RESPECT TO ONGOING OPERATING RESULTS. SPECIAL ITEMS REPRESENT SIGNIFICANT CHARGES OR CREDITS THAT ARE IMPORTANT TO AN UNDERSTANDING OF THE COMPANY'S OVERALL OPERATING RESULTS IN THE PERIODS PRESENTED. SUCH NON-GAAP MEASUREMENTS ARE NOT RECOGNIZED IN ACCORDANCE WITH
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AND SHOULD NOT BE VIEWED AS AN ALTERNATIVE TO GAAP MEASURES OF PERFORMANCE.
STANDARD MOTOR PRODUCTS, INC.
Condensed Consolidated Balance Sheets
(In thousands)
|
September 30,
2018
|
December 31,
2017
|
|||||||
|
(Unaudited)
|
||||||||
|
ASSETS
|
||||||||
|
CASH
|
$
|
27,321
|
$
|
17,323
|
||||
|
ACCOUNTS RECEIVABLE, GROSS
|
168,846
|
145,024
|
||||||
|
ALLOWANCE FOR DOUBTFUL ACCOUNTS
|
5,537
|
4,967
|
||||||
|
ACCOUNTS RECEIVABLE, NET
|
163,309
|
140,057
|
||||||
|
INVENTORIES
|
318,420
|
326,411
|
||||||
|
UNRETURNED CUSTOMER INVENTORY
|
21,295
|
-
|
||||||
|
OTHER CURRENT ASSETS
|
11,681
|
12,300
|
||||||
|
TOTAL CURRENT ASSETS
|
542,026
|
496,091
|
||||||
|
PROPERTY, PLANT AND EQUIPMENT, NET
|
91,735
|
89,103
|
||||||
|
GOODWILL
|
67,387
|
67,413
|
||||||
|
OTHER INTANGIBLES, NET
|
50,263
|
56,261
|
||||||
|
DEFERRED INCOME TAXES
|
34,907
|
32,420
|
||||||
|
INVESTMENT IN UNCONSOLIDATED AFFILIATES
|
33,785
|
31,184
|
||||||
|
OTHER ASSETS
|
16,284
|
15,095
|
||||||
|
TOTAL ASSETS
|
$
|
836,387
|
$
|
787,567
|
||||
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
|
NOTES PAYABLE
|
$
|
45,000
|
$
|
57,000
|
||||
|
CURRENT PORTION OF OTHER DEBT
|
5,980
|
4,699
|
||||||
|
ACCOUNTS PAYABLE
|
84,031
|
77,990
|
||||||
|
ACCRUED CUSTOMER RETURNS
|
53,717
|
35,916
|
||||||
|
ACCRUED CORE LIABILITY
|
30,002
|
11,899
|
||||||
|
OTHER CURRENT LIABILITIES
|
90,221
|
98,393
|
||||||
|
TOTAL CURRENT LIABILITIES
|
308,951
|
285,897
|
||||||
|
OTHER LONG-TERM DEBT
|
26
|
79
|
||||||
|
ACCRUED ASBESTOS LIABILITIES
|
35,319
|
33,376
|
||||||
|
OTHER LIABILITIES
|
18,039
|
14,561
|
||||||
|
TOTAL LIABILITIES
|
362,335
|
333,913
|
||||||
|
TOTAL STOCKHOLDERS' EQUITY
|
474,052
|
453,654
|
||||||
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
836,387
|
$
|
787,567
|
||||
STANDARD MOTOR PRODUCTS, INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
|
NINE MONTHS ENDED
SEPTEMBER 30, |
||||||||
|
2018
|
2017
|
|||||||
|
(Unaudited)
|
||||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
|
NET EARNINGS
|
$
|
39,683
|
$
|
46,623
|
||||
|
ADJUSTMENTS TO RECONCILE NET EARNINGS TO NET CASH
PROVIDED BY OPERATING ACTIVITIES:
|
||||||||
|
DEPRECIATION AND AMORTIZATION
|
17,745
|
17,439
|
||||||
|
OTHER
|
12,220
|
14,065
|
||||||
|
CHANGE IN ASSETS AND LIABILITIES:
|
||||||||
|
ACCOUNTS RECEIVABLE
|
(23,428
|
)
|
(27,753
|
)
|
||||
|
INVENTORY
|
2,761
|
(18,746
|
)
|
|||||
|
ACCOUNTS PAYABLE
|
5,193
|
90
|
||||||
|
PREPAID EXPENSES AND OTHER CURRENT ASSETS
|
1,202
|
(4,805
|
)
|
|||||
|
SUNDRY PAYABLES AND ACCRUED EXPENSES
|
12,828
|
8,728
|
||||||
|
OTHER
|
(619
|
)
|
1,120
|
|||||
|
NET CASH PROVIDED BY OPERATING ACTIVITIES
|
67,585
|
36,761
|
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
|
ACQUISITIONS OF AND INVESTMENTS IN BUSINESSES
|
(9,852
|
)
|
-
|
|||||
|
CAPITAL EXPENDITURES
|
(15,633
|
)
|
(17,710
|
)
|
||||
|
OTHER INVESTING ACTIVITIES
|
37
|
6
|
||||||
|
NET CASH USED IN INVESTING ACTIVITIES
|
(25,448
|
)
|
(17,704
|
)
|
||||
|
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
|
NET CHANGE IN DEBT
|
(10,537
|
)
|
18,153
|
|||||
|
PURCHASE OF TREASURY STOCK
|
(9,271
|
)
|
(20,000
|
)
|
||||
|
DIVIDENDS PAID
|
(14,144
|
)
|
(12,990
|
)
|
||||
|
OTHER FINANCING ACTIVITIES
|
1,382
|
658
|
||||||
|
NET CASH USED IN FINANCING ACTIVITIES
|
(32,570
|
)
|
(14,179
|
)
|
||||
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH
|
431
|
724
|
||||||
|
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
9,998
|
5,602
|
||||||
|
CASH AND CASH EQUIVALENTS at beginning of Period
|
17,323
|
19,796
|
||||||
|
CASH AND CASH EQUIVALENTS at end of Period
|
$
|
27,321
|
$
|
25,398
|
||||
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Standard Motor Products Inc provided additional information to their SEC Filing as exhibits
SEC Filing Exhibit
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Ticker: SMP
CIK: 93389
Form Type: 8-K Corporate News
Accession Number: 0001140361-18-041370
Submitted to the SEC: Fri Oct 26 2018 10:23:01 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Friday, October 26, 2018
Industry: Motor Vehicle Parts And Accessories
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