Carbiz Inc. Reports Second-Quarter Growth.SARASOTA, Fla. -- Carl Ritter Carl Ritter (August 7, 1779 – September 28, 1859) was a German geographer. Along with Alexander von Humboldt, he is considered one of the founders of modern geography. From 1825 until his death, he occupied the first chair in geography at the University of Berlin. , chief executive officer of Carbiz Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CZ) (Carbiz), reported that expansion in the company's Carbiz Auto Credit center division and higher software revenues pushed year-over-year revenue up 34 percent. Six month revenues were $2,286,269 compared to $1,703,434 in the same period last year. "The first two Carbiz Auto Credit centers continue to drive growth by increasing revenues from credit center operations," Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r said. "We expect the third quarter to continue demonstrating strong year-over-year growth."
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Six months ending Six months ending
July 31, 2005 July 31, 2004
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Revenue $2,286,269 $1,703,434
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Cost of sales $1,103,134 $757,893
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Operating expenses $1,170,214 $1,433,073
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Operating profit (loss) $12,921 $(487,532)
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Interest income (expense) $(117,675) $(61,884)
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Amortization/depreciation $73,203 $370,278
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Net profit (loss) $(177,957) $(919,694)
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Profit (loss) per common share $0.000 $(0.03)
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About Carbiz Based in Sarasota, Florida Sarasota is a city located in Sarasota County on the central west coast of Florida, USA. Its official limits include Sarasota Bay and several barrier islands between the bay and the Gulf of Mexico. , Carbiz is a leading provider of software, training and consulting solutions to the U.S. 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. . Carbiz's suite of business solutions includes dealer software products focused on the "buy-here pay-here," sub-prime finance and automotive accounting markets. Carbiz also operates a chain of "buy-here pay-here" dealerships in Florida which are wholly owned and joint venture companies. Carbiz also provides a tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. service, distributed through automobile dealers across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. on a seasonal basis. For more information about Carbiz and its services, visit Carbiz's web site: www.carbiz.com. 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. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Carbiz. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Carbiz assumes no obligation to update forward-looking statements should circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or or management's estimates or opinions change. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Carbiz Inc. (TSX VENTURE:CZ) |
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