Autobytel (ABTL) Reports In-Line Q1 EPS

Autobytel (NASDAQ: ABTL) reported Q1 EPS of $0.21, in-line with the analyst estimate of $0.21. Revenue for the quarter came in at $26.2 million versus the consensus estimate of $26.4 million.

Autobytel sees FY2015 EPS of $0.97-$1.16, versus the consensus of $1.10. Autobytel sees FY2015 revenue of $114-120 million, versus the consensus of $116.6 million.

"Following a strong fourth quarter in 2014, our first quarter of the year was highlighted by a 110 basis point increase in gross margin and continued growth in our advertising business," said Jeff Coats, President and CEO of Autobytel. "As expected, overall revenues were essentially flat due to dealer churn from last year's AutoUSA acquisition. However, we believe this trend is bottoming and we expect a return to dealer count growth during the second quarter.

"We also advanced several of our growth initiatives in the first quarter, particularly in our used car leads business and suite of mobile products. In fact, today we have more active dealers utilizing our mobile platform than ever before.

"Over the course of 2015, we will continue to drive growth through enhanced lead generation and value-add products and services, as well as through our expanding relationship with AutoWeb. During the second quarter, we plan to launch our newly revamped Car.com website, which will showcase AutoWeb listings and build upon the significant opportunity to drive growth in our advertising business. We look forward to capitalizing on these initiatives while continuing to provide our customers with the highest quality leads in the automotive marketplace."

For earnings history and earnings-related data on Autobytel (ABTL) click here.

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