AutoTradeCenter Announces Second Quarter Results.Business Editors MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. & MESA, Ariz.--(BUSINESS WIRE)--Dec. 16, 2002 AutoTradeCenter Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AUTCE) announced second quarter Internet revenue of $617,904 and $1,459,419 for the three months and six months, respectively, ended Sept. 30, 2002. These figures represent a 49 percent and 46 percent overall revenue increase over the same periods last year. The company incurred a net loss of $1,222,066 or $0.02 per share for the three months and $3,990,105 or $0.06 per share for the six months ended Sept. 30, 2002. "The financial results for the quarter and six months ended Sept. 30, 2002 do not reflect the combined figures with Autodaq Corp., that merged with the AutoTradeCenter on Oct. 10, 2002," stated Roger L. Butterwick, president. "Our financial statements from this point forward will look entirely different. We look forward to accelerating our revenue growth into 2003 as the company's upstream Internet remarketing programs and initiatives continue to mature and gain acceptance within the automotive industry." The company's 10Q filing with the SEC can be accessed through the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. reporting system located at 222.sec.gov. The company's financial statements for the second quarter and six months ended Sept. 30, 2001 are posted in the Investor Relations Investor relations The process by which the corporation communicates with its investors. section on its Web site www.autotradecenter.com. AutoTradeCenter Inc. (ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered ) is a leading Internet-based "business-to-business" automotive remarketing company offering its services to automobile manufacturers, captive finance companies Captive Finance Company A subsidiary whose purpose is to provide financing to customers buying the parent company's product. Notes: The captive finance company is usually wholly owned by the parent company. , lease and rental companies, and financial institutions across the United States. ATC powers operating successful remarketing programs for such companies as Audi, Honda, Hyundai, Isuzu, Suzuki, Volvo, Volkswagen, Enterprise Rent-a-Car, and several other banks and financial institutions. For more information on AutoTradeCenter Inc., please visit http://www.autotradecenter.com or contact Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most at lseegan@autotradecenter.com. Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in 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. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
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