Autobytel, Inc. (NASDAQ: ABTL) Announces Second Quarter 2008 Financial Results and Shares Fall to Multi-Year Low
Source: http://Blog.QualityStocks.net/?p=11623Posted on Thursday, August 7th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Autobytel, Inc. (NASDAQ: ABTL), a leading Internet automotive marketing services company, recently announced the company’s results for the second quarter ending June 30, 2008. Shares fell to a multi-year low earlier this week after the company released the news of a net loss of $57.3 million, or $1.30 per share, for the second quarter, compared with a net loss of $2.0 million, or $0.05 per share, during the same period one year earlier.
According to the president and chief executive officer, Jim Riesenbach, the company made significant progress in respect to removing costs and creating a more streamlined infrastructure during a difficult overall environment. Autobytel plans to capture future growth and better position itself for profitability in the quarters ahead by implementing additional cost reductions and restructuring the organization to be more efficient and sustainable in order to grow the company’s top line.
Despite the decrease in revenues for the second quarter of this year, the company reduced its negative cash flow, before working capital and capital expenditures, by more than 50 percent from the first quarter of 2008. Senior management is committed to the goal of achieving break-even prior to year end, which will give the company additional flexibility with respect to its capital structure and potential revenue-generating opportunities.
Let us hear your thoughts below:
Last 5 posts by QualityStocks
- Lion Energy, Southern Star Energy (SSEY.OB), Gold Star Resources Fuse to Create Combined Company with Promising Growth Opportunities - November 6th, 2009
- VIASPACE, Inc. (VSPC.OB) Subsidiary Ionfinity Captivates Mass Spectrometry Market - November 6th, 2009
- Google’s Android Takes a Bite Out of Apple - November 6th, 2009
- Continucare Corp. (CNU) First Quarter Fiscal Year 2010 Results Show 116% Increase in Operating Profit - November 6th, 2009
- Muscle Flex, Inc. (MFLI.PK) Now Accepting Orders for the Beagle StepFit, the BUDDY Tablet Caddy and “Danny Alex Commercial Blue” T-Shirts - November 6th, 2009
 About QualityStocks (http://QualityStocks.net)
Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis. Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.