Stock Watch: Autobytel Gains on Rosy Q3 Forecast

Autobytel.com (Nasdaq: ABTL) was up 5/16 at 5 3/8 in early trading Monday after the online auto site said it expects third quarter earnings to be “slightly better” than analysts’ forecasts, with revenue rising 65 to 70 percent from year-earlier levels.

Cash balance at year-end will be between $80 and $85 million, the company said. “We have delivered 22 quarters of revenue growth,” said President and Chief Executive Officer Mark Lorimer. “Our business continues to expand.”

Autobytel’s Web site offers purchasing, financing and insurance services to car buyers, owners and sellers. The company also operates CarSmart.com.

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