ABTLE ,,, Autobytel Forecasts First-Quarter Loss
Wednesday May 11, 5:57 pm ET
Autobytel Expects to Post First-Quarter Loss Between $2.5 Million and $4 Million
IRVINE, Calif. (AP) -- Autobytel Inc., an Internet automotive marketing services company, on Wednesday said it expects to post a first-quarter loss between $2.5 million and $4 million, reversing a year-ago profit.
Autobytel forecast quarterly revenue of $32 million to $33.5 million. Last year, the company earned $2.1 million on revenue of $24.8 million.
Earlier Wednesday, the company said it filed a request with the Nasdaq to extend its May 15 filing deadline for its quarterly and annual reports, to avoid being delisted from the exchange. Autobytel requested the deadline to come into full compliance with Nasdaq rules be moved to May 27.
Autobytel shares fell 20 cents, or 4.2 percent, to close at $4.56 on the Nasdaq, and later dropped 1 cent in after-hours trading.
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