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| autobytel.com, Inc. |
| 18872 Macarthur Boulevard, Irvine, CA 92612 * (949) 225-4500 |
| Business Description | The company is a leading branded Internet site for new and pre-owned vehicle information and purchasing services. |
| Offering Information Company has | |||
| Trading As | ABTL (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | Common Shares | Filing Date | 01/14/1999 |
| Domestic Shares Offered | 4,500,000 | Offer Date | 03/25/1999 |
| Foreign Shares Offered | 0 | Filing Range | $20.00 - $22.00 |
| Company Shares | 3,500,000 | Offer Price | $23.00 |
| Selling Shrhldrs Shares | 1,000,000 | Gross Spread | $1.610 |
| Gross Proceeds | $103,500,000 | Selling | $0.950 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 17,858,745 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1995 | 12/31/1996 | 12/31/1997 | 09/30/1997 | 09/30/1998 | ||
| Revenues | - | - | 0.274 | 5.025 | 15.338 | 10.770 | 16.499 |
| Income from Oper. | - | - | -1.030 | -6.159 | -17.415 | -13.135 | -15.982 |
| Net Income | - | - | -1.030 | -6.035 | -16.810 | -12.724 | -15.512 |
| E.P.S | - | - | -0.120 | -0.730 | -2.030 | -1.540 | -1.850 |
| Revenue Growth (%) | - | - | 1,733.94 | 205.234 | 53.19 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -13.55 | -9.94 | -10.46 | ||||
| Cash Flow - Inv. | -1.75 | -1.55 | -0.78 | ||||
| Cash Flow - Fin. | 22.05 | 9.06 | 5.94 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 15.47 | Current Assets | 12.93 | Current Ratio | 1.08 |
| Total Liab. | 12.09 | Current Liab. | 11.97 | Debt Ratio | 78.13% |
| Total Equity | 3.38 | Working Cap. | 0.96 | Debt to Equity Ratio | 3.57 |
| Cash | 10.49 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Paul, Hastings, Janofsky & Walker |
| Bank's Law Firm | Latham & Watkins |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Arthur Andersen |
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| Industry Competition |
The company believes that the principal competitive factors affecting the market for Internet-based vehicle marketing services include: (i) successful marketing and establishment of national brand name recognition; (ii) ease of use, speed and quality of service execution; (iii) the size and effectiveness of the participating dealership base; (iv) the volume and quality of traffic to and purchase requests from a Web site; (v) the ability to introduce new services in a timely and cost-effective manner; (vi) technical expertise; (vii) customer satisfaction and (viii) competitive dealer pricing. The company's vehicle purchasing services compete against a variety of Internet and traditional vehicle buying services and automotive brokers. In the Internet-based market, the company competes with other entities which maintain similar commercial Web sites including Autoweb.com, Cendant's AutoVantage, General Motors' BuyPower, Microsoft's CarPoint and Stoneage Corporation. Republic Industries has also announced its intention to create a Web site for marketing vehicles. The company also competes indirectly against vehicle brokerage firms and affinity programs offered by several companies, including Costco Wholesale Corporation and Wal-Mart Stores, Inc. |
| Business Plan |
Our primary objective is to be the leading global Internet brand for vehicle information and purchasing services. We intend to achieve this objective through the following principal strategies: (i) Continue to Build Brand Equity, (ii) Ensure the Highest Quality Consumer Experience, (iii) Increase Purchase Requests, (iv) Expand and Improve Dealer Network, (v) Invest in Ancillary Online Services and (vi) Expand Internationally. |