Dorman products posts quarterly gaap earnings per share of $0.70

Dorman products, inc. reports first quarter 2020 results.q1 adjusted earnings per share $0.66.q1 gaap earnings per share $0.70.q1 sales $257.7 million versus refinitiv ibes estimate of $238 million.q1 earnings per share estimate $0.65 -- refinitiv ibes data.has ample liquidity and is positioned well to navigate ongoing covid-19 pandemic.dorman products - customer demand also began to decline late in march, with corresponding negative impact on net sales estimated to be about 1.5% - 2.5% in q1.dorman products - for full year 2020 expect customer provisions to be flat.increased its cash and cash equivalents from $162 million as of end of q1 2020 to approximately $300 million as of april 24, 2020.dorman products - estimates that impact on q1 2020 from covid-19 pandemic to be about $4 million to $6 million on net sales, and $0.03 to $0.05 to eps.previously withdrew its guidance for fiscal 2020 and is not in a position to issue updated fiscal 2020 guidance at this time.expects demand to continue to be soft while government-imposed restrictions to curb spread of covid-19 remain in place.dorman products - expects distribution costs to be back to more typical levels during second half of 2020, subject to impact of covid-19.
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