Auto Info Inc. (fka AUTO-U)

[rebelgirl]

This is a sleeper stock that should be trading over 2 bucks, their Q's have been fantastic..

AutoInfo, Inc. Announces Quarterly Results; Net Revenues Increase 46%

BOCA RATON, FL, Jul 31, 2008 (MARKET WIRE via COMTEX) -- AutoInfo, Inc. (OTCBB: AUTO), a non-asset based third party logistics service provider, today announced results of its operations for the quarter and six months ended June 30, 2008.
For the six months ended June 30, 2008, the Company reported gross revenues of $81.8 million as compared with $48.3 million for the prior year period. Net revenues (gross revenues less the direct cost of transportation) were $14.3 million for the current period as compared with $10.0 million for the prior year period, an increase of 43%. The Company reported income from operations of $2,028,000 for the current period as compared with $1,326,000 for the prior year period. Net income was $1,086,000 and basic earnings per share were $.03 per share for the current period, as compared with $709,000 and $.02 per share for the prior year period.

For the three-month period ended June 30, 2008, the Company reported gross revenues of $45.2 million as compared with $26.2 million for the prior year period. Net revenues (gross revenues less the direct cost of transportation) were $7.5 million for the current period as compared with $5.1 million for the prior year period, an increase of 46%. The Company reported income from operations of $1,090,000 for the current period as compared with $711,000 for the prior year period. Net income was $596,000 and basic earnings per share were $.02 per share for the current period, as compared with $383,000 and $.01 per share for the prior year period.

Harry Wachtel, President, stated, "We are pleased to report 73% year over year revenue growth for the quarter ended June 30, 2008. Net revenues were affected by higher transportation costs which reflect the increase in fuel prices and other factors. Our continued growth is the result of our 2007 investments in people and technology and the continued strength of our agent network. We will continue to leverage our business model and expand our broker and contract carrier agent networks during 2008 and will continue to explore expansion and growth opportunities."

AutoInfo, Inc., operating through its Sunteck subsidiary, is a non-asset based transportation services company, providing transportation capacity and related transportation services to shippers throughout the United States, and to a lesser extent, Canada. Our non-asset based services include ground transportation coast to coast, local pick up and delivery. We have strategic alliances with less than truckload, contract carrier, common carriers and independent owner-operators to service our customers' needs quickly and effectively.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.



AUTOINFO, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Unaudited
Six Months Ended June 30 Three Months Ended June 30
2008 2007 2008 2007
------------- ------------- ------------- -------------
Gross revenues $ 81,796,000 $ 48,278,000 $ 45,234,000 $ 26,224,000
Cost of
transportation 67,514,000 38,277,000 37,699,000 21,078,000
------------- ------------- ------------- -------------
Net revenues 14,282,000 10,001,000 7,535,000 5,146,000
------------- ------------- ------------- -------------
Income from
operations 2,028,000 1,326,000 1,090,000 711,000
------------- ------------- ------------- -------------
Income before
income taxes 1,817,000 1,225,000 982,000 656,000
Income taxes 731,000 516,000 386,000 273,000
------------- ------------- ------------- -------------
Net income $ 1,086,000 $ 709,000 $ 596,000 $ 383,000
============= ============= ============= =============
Net income per
share:
Basic $ .03 $ .02 $ .02 $ .01
Diluted $ .03 $ .02 $ .02 $ .01
Weighted average
number of
Common shares:
Basic 32,625,000 32,539,000 32,665,000 32,813,000
Diluted 34,907,000 36,240,000 34,868,000 36,112,000
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2008 AND DECEMBER 31, 2007
June 30, December 31,
2008 2007
------------ ------------
(Audited)
Current assets:
Cash and cash equivalents $ 156,000 $ 270,000
Accounts receivable 32,079,000 24,224,000
Deferred income taxes 1,248,000 1,000,000
Other current assets 2,091,000 1,583,000
------------ ------------
Total current assets 35,574,000 27,077,000
Other assets 7,090,000 6,113,000
------------ ------------
Total assets $ 42,664,000 $ 33,190,000
============ ============
Current liabilities:
Accounts payable and accrued liabilities $ 15,404,000 $ 10,584,000
Loan payable 12,196,000 8,790,000
Stockholders' equity 15,064,000 13,816,000
------------ ------------
Total liabilities and stockholders' equity $ 42,664,000 $ 33,190,000
============ ============

Contact:
William I. Wunderlich
Chief Financial Officer
[phone] ext 201


SOURCE: AutoInfo, Inc.




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