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CRM Vendor Autobytel Releases Third Quarter 2007 Results

November 09, 2007

Autobytel, a CRM vendor and automotive marketing services company, has announced financial results for the third quarter ended September 30, 2007.

Revenue rose to $24.8 million from $23.7 million in the prior-year period and $24.3 million in the second quarter of 2007. The year-over-year increase in revenue was primarily the result of a 7 percent increase in lead fee revenue compared with the third quarter of last year, offset by a 4 percent decline in CRM services and other revenue.

 
Autobytel reported a loss from operations of $6.9 million for the 2007 third quarter, compared with a loss of $8.3 million in the third quarter of 2006 and a loss of $5.8 million in the 2007 second quarter. The year-over-year reduction in operating loss relates mostly to lower patent infringement litigation expenses and other professional fees.
 
Net loss in the third quarter of 2007 was $6.3 million, or $0.14 per share. This compares with a net loss of $7.9 million, or $0.19 per share, in the third quarter of 2006 and a net loss of $1.7 million, or $0.04 per share, in the second quarter of 2007.
 
This summer Autobytel and CallCommand announced that Autobytel sold its Retention Performance Marketing business to CallCommand for $7.6 million, subject to working capital adjustment.
 
The sale of RPM, combined with the earlier sale of their AIC business, allows Autobytel to sharpen their focus on "becoming the leading online automotive experience and destination for consumers and the premier online marketing partner for dealers and manufacturers," said Autobytel President and CEO Jim Riesenbach.
 
Automotive dealers currently use RPM to deliver welcome letters or e-mails for new car buying and service customers, and to send service reminders and tailored campaigns on a regular basis based on each customer's specific spending, purchase and visitation habits. RPM also offers customers a range of reporting and analysis capabilities.
 
In May Autobytel announced financial results for the first quarter ended March 31, 2007.
 
Revenues for the first quarter of 2007 totaled $28.4 million, compared with $28.3 million in the prior-year period and up 6 percent from $26.8 million in the fourth quarter of 2006. Autobytel generated 22 percent from customer relationship management (CRM) services and other in the first quarter of 2007, compared with 23 percent from CRM services and other in the first quarter of 2006.
 

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David Sims is a contributing editor for ContactCenterSolutions, covering the customer relationship management (CRM) and call center industries. He also blogs for ContactCenterSolutions here.

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