NowAuto Group, Inc. Announces 2005 Quarter Results
SCOTTSDALE, Ariz., Nov. 14, 2005 -- NowAuto Group, Inc. (BULLETIN BOARD: NAUG) , operator of four Buy Here/Pay Here auto dealerships in Arizona and a provider of GPS technology and services, today reported results for its quarter ended September 30, 2005.
Consolidated revenue for the quarter ended September 30, 2005 was $4,112,018. The increase in revenue in the September 30, 2005 quarter was primarily due to the acquisition of Sunburst Car Company located in Phoenix, Arizona.
The after-tax net profit for the quarter was $210,716, or $.02 per diluted common share. The provision for income taxes represented the change in the company's deferred tax asset as a result of the achieved profit in the quarter. Exclusive of this charge, the net profit would have been $.03 per share.
For the quarter ended September 30, 2005 the company's Buy Here/Pay Here and finance operations reported revenue and pre-tax income of $3,970,899 and $439,027, respectively. The company's NaviCom GPS, Inc. subsidiary reported quarterly revenue of $141,119 and a pre-tax loss of $128,175.