EXHIBIT
99.1
Carson, CA
October 28, 2008 – US Auto Parts (Nasdaq: PRTS), a leading online provider of
aftermarket auto parts and accessories, today announced that it has taken
another step in providing drivers with premier car service and repair advice by
acquiring the assets of AutoMD.comTM,
a provider of online auto diagnosis and repair technology. This
unique technology helps customers understand what is ailing their vehicle and
guides them in determining the right option to mend it.
“Consumers are
hungry for an advocate who will ensure they don’t over pay to maintain and
restore the health of their vehicle. The acquisition of AutoMDTM
positions US Auto Parts to be that consumer advocate,” said Shane
Evangelist, CEO of US Auto Parts. “Through AutoMDTM,
we will arm customers with information about how to best service and repair
their vehicle. Once informed, consumers may elect to either perform the service
themselves or go to a service center. If the consumer decides to
perform the service themselves, we believe U.S. Auto Parts is uniquely
positioned to offer the broadest range of reliable and inexpensive parts for
those repairs."
Over the next
year, US Auto Parts will enhance the existing site and build out the technology
required to ensure vehicle owners have an advocate. Once fully
developed, the website will enable a vehicle owner to input information about
the symptoms of a car’s ailment, and ultimately arrive at a diagnosis and
prescription for repair. Consumers will be provided with counsel on
services, parts, cost, and how-to guides aimed at building consumer confidence
in their knowledge and ability to perform the service themselves. The
vehicle owner will also be presented with local repair shop options for service
if they deem it is best to have a professional perform the service.
Founded on a
philosophy of creating a user-friendly educational site for car owners and
enthusiasts alike, AutoMDTM
offers free online tools that empower people to educate themselves about their
vehicles, helping to save time, money and frustrations on repairs and
maintenance. The inspiration for AutoMDTM
came from founders Erwin and Eugene Reyes’ mother, who was the victim of an
unscrupulous repair shop. The shop turned a simple oil change into thousands of
dollars of needless parts and repairs. “At AutoMDTM,
we are committed to providing drivers like our mother with friendly, easy
automotive repair and maintenance suggestions to ensure they are treated
fairly,” said the Reyes brothers.
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.
About
AutoMDTM
AutoMDTM
is a leading developer of online automotive repair and maintenance services that
are designed to provide motorists with personalized, vehicle-specific knowledge
and solutions to their automotive problems. With its virtual
diagnostics tool, AutoMDTM
trouble shoots any automobile from 1980 to 2008 and delivers a custom analysis,
in addition to providing question and answer sessions conducted by certified
mechanics. Established in 2004, AutoMDTM
delivers a free interactive automobile diagnosing experience that users can
enjoy from the comforts of their own homes.
AutoMDTM
is headquartered in San Jose, CA
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