Autobytel (ABTL) Tops Q2 EPS by 7c

Autobytel (NASDAQ: ABTL) reported Q2 EPS of $0.31, $0.07 better than the analyst estimate of $0.24. Revenue for the quarter came in at $30.4 million versus the consensus estimate of $27.71 million.

"The second quarter was filled with several significant milestones," said Jeff Coats, President and CEO of Autobytel. "First and foremost, we acquired Dealix, one of the top-ranked providers in the leads marketplace, which we are integrating on schedule and as planned. We have been able to maintain dealer churn and volumes at levels stronger than initially anticipated. As a result, we have dedicated additional resources to further increase lead quality and, therefore, the proportion of overall lead volume generated internally.

"Autobytel organic retail dealer count did in fact bottom during the second quarter and began to grow again on a net basis. We launched our completely redesigned Car.com website and saw an immediate improvement in page views and page-views-per-visit. We also launched our exciting new traffic product, Autobytel Direct, jointly developed with AutoWeb, and the initial market response has exceeded our expectations.

"Finally, in addition to these operational accomplishments, we drove strong growth during the quarter, with robust advertising revenues, driven by our AutoWeb commercial relationship and the continued page-view growth at both Autobytel.com and Car.com. As we continue to drive growth in the back half of the year, we remain committed to providing value to all of our customers, be it through enhanced lead generation or our continuously expanding suite of products. We will also continue to focus on growing our used car leads business, as well as dealer education to ensure our dealers understand the high ROI our leads can provide."

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

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