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ABTL > SEC Filings for ABTL > Form 8-K on 6-Aug-2013All Recent SEC Filings

Show all filings for AUTOBYTEL INC



Results of Operations and Financial Condition, Financial Statements and Exhibits

Item 2.02 Results of Operations and Financial Condition.

On August 1, 2013, Autobytel Inc., a Delaware corporation ("Autobytel" or the "Company"), announced in a press release its financial results for the quarter ended June 30, 2013. A copy of Autobytel's press release announcing these financial results is attached as Exhibit 99.1 to this Current Report on Form 8-K.

In connection with the press release, Autobytel held a telephone conference call that was webcast on August 1, 2013. Presentation slides referenced during the conference call were available on Autobytel's website for viewing by call participants. A transcript of that call together with presentation slides referenced during the conference call are attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

The attached transcript and presentation slides contain information that includes the following non-GAAP financial measures as defined in Regulation G adopted by the Securities and Exchange Commission: "EBITDA," "Cash Flow," "Cash Net Income" and "Cash Net Income Per Diluted Share." The Company defines EBITDA as earnings before (i) interest; (ii) taxes; (iii) depreciation; and (iv) amortization. The Company defines Cash Flow as EBITDA plus non-cash stock compensation related to the Company's grant of stock options and other equity instruments. The Company defines Cash Net Income as net income plus depreciation and amortization and non-cash share-based compensation. The Company defines Cash Net Income Per Diluted Share as Cash Net Income divided by weighted average diluted shares outstanding. The Company believes these non-GAAP financial measures provide important supplemental information regarding the underlying business trends and performance of the Company's ongoing operations to management and investors. These non-GAAP financial measures reflect additional ways of viewing aspects of the Company's operations that, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting the Company's business and results of operations.
These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items from the Company's non-GAAP measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring. The reconciliation of these non-GAAP financial measures to the GAAP financial measures that Autobytel considers most comparable is included in the presentation slides included with the call transcript filed as Exhibit 99.2 to this Current Report on Form 8-K.

The attached press release, transcript and presentation slides are incorporated herein solely for purposes of this Item 2.02 disclosure. The information furnished pursuant to this Item 2.02, including the exhibits attached hereto, shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filings under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language of such filing. In addition, the press release, transcript and presentation slides furnished as exhibits to this report include "safe harbor" language pursuant to the Private Securities Litigation Reform Act of 1995, stating that certain statements about Autobytel's business contained in the press release, transcript and presentation slides are "forward-looking" rather than "historic."

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release dated August 1, 2013

99.2 Transcript of Conference Call by Autobytel Inc. dated August 1, 2013 and Call Presentation Slides

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