Autobytel.com Expects Year-Over-Year Revenue Growth for the Third Quarter 2000 And the Fiscal Year 2000 of Between 65-70%, Earnings Per Share to Exceed Consensus Estimates
15 September 2000
Autobytel.com Expects Year-Over-Year Revenue Growth for the Third Quarter 2000 And the Fiscal Year 2000 of Between 65-70%, Earnings Per Share to Exceed Consensus Estimates
IRVINE, Calif., Sept. 15 Autobytel.com
today announced it expects year over year revenue growth for the third quarter
of 2000 and for the fiscal year 2000 to be between 65-70% and earnings per
share to be slightly better than consensus estimates for the quarter ending
September 30, 2000 and for fiscal year 2000.
The company continues to expect the cash balance by the end of fiscal year
2000 to be between $80-$85 million.
"We have delivered 22 quarters of revenue growth. Our business continues
to expand and we expect our earnings per share to slightly exceed consensus
estimates," said Mark W. Lorimer, President and CEO of Autobytel.com.
Autobytel.com's final third quarter results are scheduled to be reported
on October 26, 2000 at 1 p.m. PDT, following the close of the market.
About autobytel.com inc.
Autobytel.com inc. , the global leader in online automotive
commerce, brings car buyers, owners, and sellers together in a trusted
environment, empowered by the Internet. Through its extensive automotive
content and multiple purchasing, financing, insurance and service options,
Autobytel.com offers consumers choice and peace of mind throughout the
automotive lifecycle, while providing its network of accredited dealers and
automotive services partners the most efficient way to reach online car buyers
and owners. Autobytel.com and its wholly-owned subsidiary, CarSmart.com, have
a network of over 5,000 Dealers nationwide and are the seventh largest
generator of automotive sales in the United States, just behind GM, Ford,
DaimlerChrysler, Toyota, Honda and Nissan. Autobytel.com has been ranked #1
in Dealer Satisfaction with Online Buying Services for three years in a row by
J.D. Power and Associates.* Autobytel.com's low-cost, no-haggle car-buying
program is available in the U.S., Canada ( http://www.autobytel.ca ), the United
Kingdom ( http://www.autobytel.co.uk ), Sweden ( http://www.autobytel.se )
and Japan ( http://www.autobytel-japan.com ). Headquartered in Irvine, California,
Autobytel.com is recognized as the company that transformed the $1 trillion
new car industry when it invented online car buying.
* J.D. Power and Associates 1998-2000 Dealer Satisfaction With Online
Buying Services Studies(SM). 2000 study conducted among dealership Internet
specialists who completed 2,144 evaluations of individual services.
http://www.jdpower.com.
The statements contained in this press release that are not historical
facts are forward-looking statements under the federal securities laws. These
forward-looking statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are difficult to
predict. Actual outcomes and results may differ materially from what is
expressed in, or implied by, such forward-looking statements. Autobytel.com
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. Among the
important factors that could cause Autobytel.com's actual results to differ
materially from those expressed in, or implied by, the forward-looking
statements are changes in general economic conditions, increased or unexpected
competition, changes in A.I.N.Corporation's financial performance, and other
matters disclosed in Autobytel.com's filings with the Securities and Exchange
Commission. Investors are strongly encouraged to review the Company's annual
report on Form 10-K for the year ended December 31, 1999, and quarterly
reports on Form 10-Q on file with the Securities and Exchange Commission for a
discussion of risks and uncertainties that could affect operating results and
the market price of the Company's stock.