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Article: Autobytel Announces 2008 Third Quarter Financial Results.(Financial report)
- Article from:
- Business Wire
- Article date:
- November 6, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IRVINE, Calif. -- Autobytel Inc. (Nasdaq: ABTL), a leading Internet automotive marketing services company, today announced financial results for the 2008 third quarter ended September 30, 2008.
Revenue for the 2008 third quarter equaled $17.3 million, compared with $21.9 million last year. The decline was primarily related to a decrease in advertising revenue, reflecting the previously announced elimination of low quality traffic sources, along with lower advertising rates and fewer consumer leads resulting primarily from the slowing economy.
As part of an initiative aimed at improving cash flow and attaining profitability, the company reduced total ...