Dorman Products, Inc. Provides Business Update on COVID-19 and Announces Date to Report First Quarter 2020 Financial Results

• Dorman facilities and global supply chain continue to meet current customer demand levels
  
• Proactive steps taken to manage costs, enhance liquidity and bolster balance sheet
• Given uncertainty of COVID-19 pandemic, Dorman withdraws fiscal 2020 guidance
• Dorman announces it will report first quarter 2020 financial results on April 27, 2020
• 2020 Annual Meeting of Shareholders to be held virtually

COLMAR, Pa., April 08, 2020 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (the “Company” or “Dorman”) (NASDAQ:DORM), a leading supplier in the automotive aftermarket industry, today provided an update on its business operations in light of the ongoing Coronavirus (COVID-19) pandemic.

“First and foremost, the health and safety of our employees, customers, and suppliers remain our utmost priority,” said Kevin Olsen, President and Chief Executive Officer of Dorman. “We are closely monitoring this rapidly evolving situation and are focused on maintaining business continuity across our operations. Although first quarter net sales were robust, we started to see a drop in demand toward the end of March, which we expect to continue during the second quarter, possibly longer, due to government-imposed restrictions that were implemented to slow the spread of COVID-19. We believe the number of miles driven, as well as the number of service appointments, are decreasing as a result of these government-imposed restrictions, which we expect will negatively impact our financial performance until such time as these restrictions are lifted.”

COVID-19: Business and Liquidity Update
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 robust 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 the first quarter of fiscal 2020 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.