U.S. Auto Parts Network, Inc. Reports Q4 EPS of $0.00 vs. $(0.01)

U.S. Auto Parts Network, Inc. PRTS today reported net sales for the fourth quarter ended January 1, 2011 of $80.5 million compared with Q4 2009 net sales of $45.8 million. Excluding $25.5 million of revenues from the acquisition of J.C. Whitney, net sales were $55.0 million, an increase of 20% over Q4 2009 net sales. Q4 2010 net loss was $2.9 million or $0.10 per share, compared with Q4 2009 net income of $0.6 million or $0.02 per diluted share. Q4 2010's net loss includes net loss of $3.1 million or $0.10 per share related to J.C. Whitney of which $1.5 million of the loss, net of tax was attributable to restructuring and acquisition expenses. Excluding J.C. Whitney's EBITDA loss of $1.0 million and related $1.5 million of restructuring and acquisition expenses, as well as $0.1 million of legal fees to protect intellectual property and $0.6 million of share-based compensation, adjusted EBITDA was $3.7 million, an increase of 3% over Q4 2009.