Autobytel Inc. (NASDAQ:ABTL) Files An 8-K Results of Operations and Financial Condition

Autobytel Inc. (NASDAQ:ABTL) Files An 8-K Results of Operations and Financial Condition
Item 2.02

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Results of Operations and Financial Condition.

On August 3, 2017, Autobytel Inc., a Delaware corporation (“Autobytel” or “Company”), announced in a press release its financial results for the quarter ended June 30, 2017. A copy of Autobytel’s press release announcing these financial results is attached as Exhibit 99.1 to this Current Report on Form 8-K.

In connection with the press release, the Company also held a conference call that was webcast on August 3, 2017. Presentation slides referenced during the conference call were available on Autobytel’s website for viewing by call participants. A transcript of that call together with presentation slides referenced during the conference call are attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

The attached press release, transcript, and presentation slides contain information that includes the following Non-GAAP financial measures as defined in Regulation G adopted by the Securities and Exchange Commission: “Non-GAAP Income” and “Non-GAAP EPS.” The Company defines (i) Non-GAAP Income asgenerally accepted accounting principles (“GAAP”) net income before amortization of acquired intangibles, non-cash stock-based compensation, acquisition costs, severance costs, gain or loss on investment or sale, litigation settlements, and income taxes; and (ii) Non-GAAP EPS as Non-GAAP Income divided by weighted average diluted shares outstanding. In addition to the foregoing Non-GAAP financial measures, for year-over-year comparisons, prior year results for all periods presented are adjusted to exclude the Company’s specialty finance leads product, which was divested on December 31, 2016, which comparisons and prior year results are also Non-GAAP financial measures as defined by Regulation G. The Company’s management believes that presenting Non-GAAP Income and Non-GAAP EPS and the adjusted year-over-year comparisons and prior year results provides useful information to investors regarding the underlying business trends and performance of the Company’s ongoing operations and are better metrics for monitoring the Company’s performance given the Company’s net operating loss tax credits and recent acquisitions and divestitures. These Non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review the Company’s consolidated financial statements in their entirety and to not rely on any single financial measure. Tables providing reconciliations of Non-GAAP Income and Non-GAAP EPS and the adjusted year-over-year comparisons and prior year results are included at the end of the press release and in the presentation slides filed as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.

The Company also provided guidance as to its 2017 Non-GAAP Income and Non-GAAP EPS. Note that for comparative purposes, the foregoing guidance excluded 2016 revenues, Non-GAAP Income and Non-GAAP EPS related to the Company’s specialty finance leads product that was divested on December 31, 2016. Additionally, although the Company provided a reconciliation of Non-GAAP Income and Non-GAAP EPS, it did not provide a reconciliation of its 2017 Non-GAAP Income or Non-GAAP EPS guidance to the most directly comparable GAAP financial measures because the effect, timing and potential significance of the effects of tax considerations, primarily related to the Company’s net operating loss carryforwards, are out of the Company’s control and/or cannot be reasonably predicted. Consequently, reconciliations to the corresponding GAAP financial measures are not available without unreasonable effort.

The attached press release, transcript and presentation slides are incorporated herein solely for purposes of this Item 2.02 disclosure. The information furnished to this Item 2.02, including the exhibits attached hereto, shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filings under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language of such filing. In addition, the press release, transcript and presentation slides furnished as exhibits to this report include “safe harbor” language to the Private Securities Litigation Reform Act of 1995, stating that certain statements about Autobytel’s business contained in the press release, transcript and presentation slides are “forward-looking” rather than “historic.”

Item 2.02

Financial Statements and Exhibits

99.1

Press Release dated August 3, 2017

99.2

Transcript of Autobytel Inc.’s Conference Call dated August 3, 2017 and Conference Call Presentation Slides


AUTOBYTEL INC Exhibit
EX-99.1 2 ex99-1.htm PRESS RELEASE DATED AUGUST 3,…
To view the full exhibit click here

About Autobytel Inc. (NASDAQ:ABTL)

Autobytel Inc. is an automotive marketing services company that assists automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers through the programs for online lead referrals, dealer marketing products and services, and online advertising programs and mobile products. The Company operates through providing automotive marketing services segment. Its consumer-facing automotive Websites, including Website Autobytel.com, provide consumers with information and tools to aid them with the automotive purchase decisions and ability to submit inquiries requesting dealers to contact the consumers regarding purchasing or leasing vehicles. Its AutoWeb pay-per-click advertising marketplace program uses technology to refer consumer traffic to dealers and manufacturer Websites. For consumers who may not be able to secure loans through conventional lending sources, the Websites provide these consumers the ability to submit inquiries requesting dealers.

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