EXHIBIT
99.1
U.S.
Auto Parts Network, Inc. Announces Acquisition of Auto Information and Advice
Website
CARSON, Calif.,
September 30, 2008 U.S. Auto Parts Network, Inc. (Nasdaq: PRTS), a leading
online provider of aftermarket auto parts and accessories, today announced that
it has entered into an agreement to purchase certain assets of SmartTrac, Inc.
related to a website providing a broad range of information on the purchase,
care and repair of automobiles.
The website, which
generates over 250,000 unique visitors monthly, will enhance the scope of
information, advice and guidance that U.S. Auto Parts provides its
customers.
The deep vertical
content provided on the site includes basic education: from “how an engine
works” to car care advice, maintenance and repair information. Automobile trends
and vehicle reviews based on actual driver experience will also assist the
consumer in making informed decisions when purchasing a car. U.S. Auto Parts
plans to integrate its parts catalogue into the site to provide users with quick
and easy access to solutions for their auto repair part needs.
“U.S. Auto Parts
has grown and will continue to grow our business, in part, through acquiring
relevant online content, and integrating it into our world class e-commerce
platform,” said Shane Evangelist, CEO of U.S. Auto Parts. “This acquisition is
in line with that strategy but is also a first step in a move to arm customers
with information about how to best service and repair their vehicle. Once
informed, we believe U.S. Auto Parts is uniquely positioned to offer the
broadest range of reliable and inexpensive parts for those
repairs."
About U.S. Auto
Parts Network, Inc.
Established in
1995, U.S. Auto Parts 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' flagship websites are located
at http://www.partstrain.com and http://www.autopartswarehouse.com, and the
Company's corporate website is located at
http://www.usautoparts.net.
U.S. Auto Parts is
headquartered in Carson, California.
Safe Harbor
Statement
This press release
contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, which are based on management's current expectations,
estimates and projections about the Company's business and its industry, as well
as certain assumptions made by the Company. Words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will"
and variations of these words or similar expressions are intended to identify
forward-looking statements. These statements include, but are not limited to,
the Company's expectations regarding its future operating results and financial
condition, impact of changes in our key operating metrics, our potential growth,
our liquidity requirements, the status of our auction rate preferred securities,
as well as the future performance of the Company's call center operations. We
undertake no obligation to revise or update publicly any forward-looking
statements for any reason. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Therefore, our actual results could differ materially
and adversely from those expressed in any forward-looking statements as a result
of various factors.
Important factors
that may cause such a difference include, but are not limited to, the demand for
the Company's products; the potential economic downturn that could adversely
impact retail sales, the competitive and volatile environment in the Company's
industry; the Company's ability to expand and price its product offerings,
control costs and expenses, and provide superior customer service; the mix of
products sold by the Company; the effect and timing of technological changes and
the Company's ability to integrate such changes and maintain, update and expand
its infrastructure and improve its unified product catalog; the Company's
ability to improve customer satisfaction and retain, recruit and hire key
executives, technical personnel and other employees in the positions and
numbers, with the experience and capabilities, and at the compensation levels
needed to implement the Company's business plans both domestically and
internationally; the Company's cash needs; any changes in the search algorithms
by leading Internet search companies and the Company's ability to comply with
Section 404 of the Sarbanes-Oxley Act, and, maintain an adequate system of
internal controls; any remediation costs or other factors discussed in the
Company's filings with the Securities and Exchange Commission (the "SEC"),
including the Risk Factors contained in the Company's Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q, which are available at
http://www.usautoparts.net and the SEC's website at http://www.sec.gov. You are
urged to consider these factors carefully in evaluating the forward-looking
statements in this release and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety by this
cautionary statement. Unless otherwise required by law, the Company expressly
disclaims any obligation to update publicly any forward-looking statements,
whether as result of new information, future events or otherwise.
US Auto Parts(R),
Auto Parts Train(TM), PartsTrain(TM), Partsbin(TM), Kool-Vue(TM) and
Auto-Vend(TM) are among the trademarks of U.S. Auto Parts. All other trademarks
and trade names mentioned are the property of their respective
owners.
Investor
Contacts:
Michael
McClane, Chief Financial Officer
U.S.
Auto Parts Network, Inc.
michael@usautoparts.com
(310)
735-0085
Anne
Rakunas / Laura Foster
ICR,
Inc.
(310)
954-1100
anne.rakunas@icrinc.com
laura.foster@icrinc.com
SOURCE U.S. Auto
Parts Network, Inc.
http://www.usautoparts.net