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The company said, "Under its share repurchase program, Dorman repurchased 92.0 thousand shares of its common stock for $5.5 million at an average share price of $59.41 during the quarter ended March 28, 2020. The Company has $138.5 million left under its current share repurchase authorization. As communicated on April 8, 2020, the Company temporarily halted its share repurchase program while it navigates the uncertain COVID-19 environment. However, the Company may resume the repurchase program at any time when the Company believes it is prudent to do so and without further notice."

The company said, "Early in 2019, Dorman began the process of transferring operations of its existing distribution facility in Portland, TN to a new, larger facility nearby. The Company completed this move early in the fourth quarter of 2019, and the new facility is fully operational. Dorman expects this move to improve customer service capabilities and efficiency moving forward. However, in the first quarter of 2020, the Portland facility costs were approximately $1.3 million higher than in the prior year quarter due to lower productivity levels as we continued to ramp up production. Sequentially when compared to the fourth quarter of 2019, the Portland facility made strong progress as we implemented planned productivity initiatives that reduced costs in the first quarter of 2020 by $3.9 million compared to the fourth quarter of 2019, with $0.6 million of the improvement impacting gross profit and $3.3 million impacting SG&A expenses. The Company expects distribution costs to be back to more typical levels during the second half of 2020, subject to the impact of COVID-19."

The company said, "Throughout the U.S., automotive repair and the related supply and distribution of parts have generally been classified as essential businesses exempted from government shutdowns. Therefore, the vast majority of Dorman's retail and wholesale customers are open for business, and in turn, all of Dorman's U.S. facilities are also open and operating at this time, with modified staffing in certain locations where appropriate. Dorman is closely monitoring updates from local, state and federal authorities, and adjusting its operations as necessary. Dorman has taken actions to promote the welfare of its employees by enhancing safety protocols, including requiring administrative employees to work from home where applicable and implementing social distancing and robust sanitization practices at its facilities. In addition, the Company has adopted a COVID-19 sick leave policy providing continued salary and benefits to eligible employees. As a result of the potential prolonged economic impact of the COVID-19 pandemic, as previously reported, the Company has taken proactive steps to manage its costs and bolster its balance sheet and cash position, including: Drawing down $99 million from its revolving credit facility, which matures in December 2022; Increasing the level of receivables collected under various factoring programs; Temporarily suspending its share repurchase program; and Adjusting its cost structure, investment spending, and inventory position to align with anticipated customer demand levels.As a result of these actions, the Company increased its cash and cash equivalents from $162 million as of the end of the first quarter 2020 to approximately $300 million as of April 24, 2020. The Company estimates that the impact on first quarter 2020 from the COVID-19 pandemic to be approximately $4 million to $6 million on net sales, and $0.03 to $0.05 to diluted earnings per share, primarily due to the decline in customer demand late in March."

Dorman Products provided an update on its business operations in light of the ongoing COVID-19 pandemic. Throughout the U.S., automotive repair and the related supply and distribution of parts have generally been classified as essential businesses exempted from government shutdowns. Therefore, the vast majority of Dorman's retail and wholesale customers are open for business, and in turn, all of Dorman's U.S. facilities are also open and operating at this time, with modified staffing in certain locations where appropriate. Dorman has taken actions to promote the welfare of its employees by enhancing safety protocols, including encouraging employees to work from home where applicable and implementing social distancing and sanitization practices at its facilities. Dorman has also adopted a COVID-19 sick leave policy providing continued salary and benefits to eligible employees. Operationally, Dorman's global network of parts suppliers is meeting Dorman's current demand levels, including Dorman's suppliers in China that experienced a slowdown in the first part of Q1 of FY20 due to the pandemic. The company will continue to closely monitor updates regarding the spread of COVID-19 and adjust its operations according to guidelines from local, state and federal officials. Dorman exited 2019 with a strong balance sheet and since then, in light of the COVID-19 pandemic, took steps to manage its costs and bolster its balance sheet and cash position, including: Drawing down $99M from its $100 million revolving credit facility, which matures in December 2022; Increasing the level of receivables collected under various factoring programs; Temporarily suspending its share repurchase program; Managing inventories and operating costs to quickly adjust to demand dynamics; Limiting non-essential operating expenses and deferring capital expenditures, as appropriate. As a result of these actions, the company increased its cash position and, as of April 7, the company had approximately $300M in cash and cash equivalents. Dorman believes that its asset light model and ample liquidity position it well to navigate the current economic disruption associated with the ongoing COVID-19 pandemic.