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Autobytel Looking to Be Profitable This year (NASDAQ:ABTL)

|Includes: AutoWeb, Inc. (AUTO)

Autobytel, an online auto consumer lead generation website. The company reported first quarter results at the market close yesterday. With the recent turmoil of the Auto Industry there is no doubt that everyone in the space from parts makers to lead generators have been hurting. ABTL appears to have reached some stability and is looking for growth in 2010

Financial Highlights:
  1. Revenue for the quarter was 11.8 million, down from 13.9 million 
  2. Advertisement Revenue declined to 1.1 million from 1.7 million
  3. Gross margin increase to 40% compared to 36%
Yesterday, ABTL reported a net income 797,000 or .02 per diluted share for the first quarter.

The company announced the upcoming launch of the new product iControl by autobytelsm, which is said to give dealers unprecedented control over their online consumer leads. Smarter Data means smarter sales and more efficient inventory. Times are still tight and auto dealerships have to make sure all of their margins are met.
Profitability for this company is said to be possible in 2010.

For more articles written by World Market Media concerning AutoBytel, click here