Autobytel Reports 2010 Second Quarter Financial Results

Autobytel Inc. ABTL today reported financial results for the second quarter ended June 30, 2010. Revenue for the 2010 second quarter totaled $12.1 million, compared with $13.4 million for the 2009 second quarter, but up approximately 3% from $11.8 million in the first quarter of 2010. Lead referral revenue for the 2010 second quarter decreased less than 3% from the same quarter last year. Advertising revenue declined to $869,000 for the 2010 second quarter, from $1.8 million for the 2009 second quarter and $1.1 million for the 2010 first quarter. Gross margin increased to 35.0% for the 2010 second quarter, versus 32.9% for the 2009 second quarter. Total operating expenses for the 2010 second quarter were $7.5 million, compared with $6.6 million in the prior-year period.