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Autobytel beats Street 4Q forecasts

IRVINE, Calif. (AP) _ Autobytel Inc. (ABTL) on Thursday reported fourth-quarter earnings of $1.4 million.

The Irvine, California-based company said it had profit of 10 cents per share. Earnings, adjusted for one-time gains and costs, were 35 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The provider of marketing services for automakers and dealers posted revenue of $40.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $37.8 million.

For the year, the company reported profit of $3.9 million, or 29 cents per share. Revenue was reported as $156.7 million.

Autobytel expects full-year earnings in the range of $1.24 to $1.28 per share, with revenue in the range of $156 million to $160 million.

Autobytel shares have decreased 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.02, a decrease of 34 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABTL at https://www.zacks.com/ap/ABTL


Keywords: Autobytel, Earnings Report