Autobytel.com's 14,607% Revenue Growth Results in Deloitte & Touche Award: Named Second Fastest Growing Technology Company in Orange County/San Diego
26 September 2000
Autobytel.com's 14,607% Revenue Growth Results in Deloitte & Touche Award: Named Second Fastest Growing Technology Company in Orange County/San Diego
Impressive Revenue Growth Attributed to Autobytel.com's Global Leadership In
Online Car Buying and #1 Market Position With Both Consumers and Dealers
IRVINE, Calif., Sept. 26 Deloitte & Touche has named
Autobytel.com the second fastest growing technology company in
Orange County and San Diego. Deloitte & Touche's prestigious "Technology Fast
50" program ranks the leading Orange County and San Diego technology companies
based on the percentage of revenue growth over the last five years. With over
1,500 technology companies now based in Orange County and San Diego,
Autobytel.com is clearly an industry leader. Autobytel.com's 14,607% revenue
growth surpassed the largest technology companies in the region including,
Broadcom, QUALCOMM, and Linksys. The annual rankings include companies from
all technology sectors -- from biotech to e-commerce -- that are currently
headquartered in one of the hottest high tech regions in the country.
Mark Lorimer, Autobytel.com's President and CEO, credits the company's
innovative pro-consumer solutions, and industry-leading technological and
automotive expertise, for Autobytel.com's 14,607% revenue growth. "It's
staggering to consider: in the five years since Autobytel.com pioneered online
car buying and began revolutionizing a $1 trillion global auto industry, more
than 50% of all new car buyers are turning to the Internet when shopping for a
car," said Lorimer. "Autobytel.com has maintained its #1 market share year
after year in what is the fastest growing segment of the Internet and has
delivered 22 solid quarters of uninterrupted revenue growth. Being recognized
by Deloitte & Touche for these financial accomplishments is an honor."
Lorimer was one of five leading Southern California CEOs featured in a special
video presentation to attendees at last night's award ceremonies in Orange
County.
"To be ranked #2 in the OC/SD Fast 50 is no easy feat," said Fred Poska,
partner in charge, Orange County High Technology Group for Deloitte & Touche.
"In an era where technology companies come and go like shooting stars,
Autobytel.com's #2 ranking among Orange County/San Diego Fast 50, is a
testament to the company's leadership and its ability to not only have the
right solution for that moment in time, but also the vision that allows growth
over five years. Autobytel.com has proven that they have the right stuff to
succeed, and we at Deloitte & Touche salute its accomplishments."
To qualify for the Orange County/San Diego Technology Fast 50, companies
must be in business for a minimum of five years; must not be a subsidiary or
division, unless separately traded and having some public ownership; must have
1995 revenues of at least $50,000 and 1999 revenues of $1,000,000 or more;
must be considered a technology company which is defined as developing
proprietary technology which contributes to a significant portion of the
company's operating revenues, manufacturing a technology related product, or
devoting a high percentage of effort to research and development of
technology; and must be headquartered in Orange County or San Diego counties.
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.(1) 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.
(1) 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.