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Precision Auto Care Announces 1st Quarter Results

16 November 2000

Precision Auto Care Announces 1st Quarter Results

    LEESBURG, Va., Nov. 15 Precision Auto Care, Inc.
today announced a loss of $2.7 million or $(.36) per share for
the fiscal quarter ending October 31, 2000, compared with a loss of $1.6
million or $(.27) per share for the comparable prior year quarter.  .
    Lou Brown, President and CEO, stated "the increase in the net loss versus
the prior year period is primarily due to a decrease in manufacturing revenues
from the prior year. The Company is continuing its efforts to divest itself of
its manufacturing entities."
    
                                     Three Months Ending September 31, 2000

    000s except per share amounts
                                                        2000           1999
    Revenue                                           $6,229        $10,100
    Net income (loss)                               $(2,664)       $(1,650)
    Diluted earnings (loss) per share                $(0.36)        $(0.27)
    Shares outstanding - diluted                       7,429          6,159