Autobytel Loses $6.3 Million in Quarter
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Irvine-based Autobytel.com Inc. said Thursday it lost $6.3 million, or 35 cents a share, in the third quarter, a smaller loss than analysts had estimated for the online auto shopping firm.
Analysts had expected a loss of 39 cents a share, according to a survey by First Call Corp.
The loss, which included a $600,000 charge related to the aborted acquisition of W.G. Nichols Inc., surpassed its loss a year ago by 13%.
The company, which went public in March, saw its revenue grow 64% to $10.6 million.
Autobytel, which sends customer leads to a network of more than 3,000 auto dealers, said the number of purchase requests sent to dealers reached 590,000 during the quarter, a 15% increase over the previous quarter and a 75% increase over the same period a year ago.
The company also has seen a boost in its revenue from products such as insurance and financing, which now make up 12% of sales.
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