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Autobytel Inc. Reports Operating Results (10-Q)

August 02, 2012 | About:
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Autobytel Inc. (ABTL) filed Quarterly Report for the period ended 2012-06-30.

Autobytel Inc. has a market cap of $33.9 million; its shares were traded at around $3.69 with a P/E ratio of 24.7 and P/S ratio of 0.5.

Highlight of Business Operations:Purchase Requests. Purchase Request revenue increased $0.6 million or 4% in the second quarter of 2012 compared to the second quarter of 2011 primarily due to an increase of 5% and 6% in the volume of automotive Purchase Requests delivered to new and used retail Dealers and Manufacturers and other wholesale purchasers, respectively.

Advertising. Advertising revenues decreased $61,000 or 6% in the second quarter of 2012 compared to the second quarter of 2011 due primarily to timing delays of certain Manufacturer direct marketing campaigns.

Purchase Requests. Purchase Request revenue increased $1.4 million or 5% in the first six months of 2012 compared to the first six months of 2011 primarily due to an increase of 8% in the volume of automotive Purchase Requests delivered to Manufacturers and other wholesale purchasers.

Cost of Revenues. Cost of revenues increased $0.5 million or 3% in the first six months of 2012 compared to the first six months of 2011 primarily due to an increase in SEM costs.

Net Cash Provided by Operating Activities. Net cash provided by operating activities in the six months ended June 30, 2012 of $2.9 million resulted primarily from net income of $0.5 million, as adjusted for non-cash charges to earnings, in addition to cash used to reduce accrued liabilities of $0.9 million primarily related to the payment of annual incentive compensation amounts and severance accrued in 2011 and paid in the first six months of 2012 offset by a $1.5 million increase in our accounts payable balance. Net cash provided by operating activities in the six months ended June 30, 2011 of $0.2 million resulted primarily from net losses of $0.4 million, as adjusted for non-cash charges to earnings, in addition to cash used to reduce accrued liabilities of $1.3 million primarily related to the payment of annual incentive compensation amounts and severance accrued in 2010 and paid in the first six months of 2011 and a $1.4 million decrease in our accounts receivable balance related to the timing of payments received from our customers.

Read the The complete Report

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