Auteo Media Announces Record Revenues, Gross Profits and Financial Results; Company Continues Rapid Sales Expansion and Acquisition Strategies.Business Editors & Automotive Writers SEATTLE--(AutomotiveWire)--May 15, 2001 Auteo Media, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUTM AUTM Association of University Technology Managers AUTM Authorised Unusable Time (Loran-C System) ), a leading provider of communication solutions for the automotive Industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. announced reported sales for the quarter ending March 31, 2001. Year-over-Year Revenues Grow 43% to $302,585 Year-over-Year Gross Profits Grow 39% to $271,132 Current Assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. Grow 82% from year-end 2000 Sales for the quarter ended March 31, 2001, increased by $75,566 to $302,585, representing a 43% increases over the same period 2000. This growth can be attributed to our fast growing operations in California and new product sales. Gross profit for the quarter ended March 31, 2001, increased to $271,132 from $195,566 in 2000, representing a 39% increase. Selling, general and administrative expenses, increased from $211,800 to $451,549 due to costs associated with the acquisition of NWCarnet, our California expansion, accounting and legal fees, establishing new routes and development of our new technologies. As a result, net loss for the quarter from $26,806 in 2000 to $198,391 in 2001. "We are on track with the results of the quarter and continue to anticipate becoming profitable again in 2001," stated Steve Van Leeuwen, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Auteo Media, Inc. The Company previously reported that it acquired the assets of NWCarnet in addition to its expansion into the lucrative southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, market. Auteo Media is evolving from its regional, single business model to become a nationally recognized organization offering a portfolio of communications solutions for the automotive industry. "First quarter represented excellent accomplishment for us as we expanded into southern California, made our first acquisition with NWCarnet and began offering our new products to existing customers," Van Leeuwen said. "We are anticipating that second quarter will be our best financial month to date in addition to new product development breakthroughs." About Auteo Media, Inc.: Auteo Media, Inc., (OTCBB:AUTM) is a leading provider of online data and media solutions to buyers and sellers of autos and auto accessories. Auteo Media operates Northwest and California Dealer Specialties data collection and digital photography services, Contactauto.com, a proprietary, wireless based contact management system to help auto dealers maximize e-commerce customer interactions, Autoloco.com and Bidthatcar.com, providing one-stop convenience for consumers and dealers to locate and buy new and used vehicles and is Partcart.com, a OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
By Order of the Board of Directors "Steve Van Leeuwen" Steve Van Leeuwen, President Cautionary Statement: NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has neither approved nor reviewed the information contained herein. Certain statements contained in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms or other terminology. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could affect Auteo Media's actual results could be influenced by certain risk factors. More information about factors that potentially could affect Auteo Media's financial results are included in Auteo Media's most recent annual report on Form 10K Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Auteo Media undertakes no obligation to update any forward-looking statements. |
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