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EXHIBIT 99.1
At Autobytel.com: At Financial Relations Board:
Amit Kothari, Interim Chief Financial Officer Michele LaGrone, analyst contact
[email protected] Chris Wood, financial media
949/862-1362 415/986-1591
Jennifer Bowser, IR Manager
949/225-4553
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, CA - September 15, 2000 - Autobytel.com (NASDAQ: ABTL) 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. (Nasdaq:ABTL), 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 (www.autobytel.ca), the United Kingdom
(www.autobytel.co.uk), Sweden (www.autobytel.se) and Japan
(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.
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(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.
www.jdpower.com.
-more-
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Autobytel.com Expects Year-Over-Year Revenue Growth for the Third Quarter 2000
September 15, 2000
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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.
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