MotorVac Expecting Decline in Revenue

MotorVac Technologies Inc., which designs technology to service automotive fluid systems, said Thursday that it expects to report first-quarter earnings of 5 cents to 6 cents a share and lower revenue of about $3.7 million.

The Santa Ana company said in a press release Thursday that the expected decline in revenue was caused mainly by lower domestic and Canadian sales.

For last year’s first quarter, the company reported earnings of $283,870, or 6 cents a share, on sales of about $4.1 million.

MotorVac attributed the lower sales levels to the timing of orders rather than overall weakening market trends. The company will report quarterly results April 27.

Shares of MotorVac gained 13 cents a share to close at $3.25 in Nasdaq trading. (Dow Jones)