Autobytel.com has announced fourth quarter and year-end 2000 financial results. Fourth quarter revenue was $16.8 million, a 35 percent increase over revenue of $12.4 million in the fourth quarter of 1999, and a four percent sequential decrease from revenue in the quarter ended Sept. 30, 2000.

The percent of total revenue from international fees and licenses, and from services such as financing, insurance and web site development was 18 percent for the quarter.

Additionally, the company reported that at the close of the quarter, its cash and cash equivalents remained strong at $81.9 million. This amount includes $47.7 million for use domestically and $34.2 million raised and reserved for the operation of Autobytel Europe. The company had $90.6 million in cash as of Sept. 30, 2000.

Excluding goodwill, stock-based compensation charges and foreign currency exchange, net loss for the quarter was $0.22 per share, an improvement of $0.03 cents per share, or 12 percent, over consensus estimates. The net loss for the fourth quarter of this year was $3.3 million, or $0.16 per share, including a foreign exchange gain of $1.7 million, or $0.08 cents per share.

For the year, revenue reached $66.5 million, a 65 percent increase over revenue of $40.3 million in 1999. Related products revenue, including international revenue, was $12.5 million for the year, a 177 percent increase over revenue of $4.5 million in 1999. Net loss for 2000 was $29.0 million, or $1.45 per share, compared with a net loss of $23.3 million, or $1.48 per share in 1999.

"Profitability in the third quarter of 2001 remains our consuming goal," said Mark Lorimer, president and CEO of Autobytel.com. "Despite an economic slowdown in the latter part of the year, our revenue remains strong. We continue to successfully maintain our cash position, our dealer network remains strong, we're integrating the CarSmart acquisition, and our consumer and dealer-based programs show strong and consistent growth, including MyGarage, which now has a record number of registered customers at 727,000.

"Just this week, we launched one of the most comprehensive automotive customer data management tools available on the market today," Lorimer said. "iManager is designed to assist dealers with every aspect of customer relationship management, from reduced response times to detailed reporting to database building tools for improving Internet sales and service revenues at the dealership level. So far, we've had great response from our dealers, whose input was instrumental in the design and development of the iManager product.

"During the quarter, we signed an agreement with Continental AG, one of the world's leading tire manufacturers, for the development of an Internet tire module in Europe," Lorimer continued. "The total allocated amount of the investment from Continental is $15 million, of which a large portion is earmarked for Autobytel companies. We incurred foreign exchange losses of $1.8 million in the third quarter which we largely recouped as gains in the fourth quarter due to exchange rate fluctuations."

"And this quarter, we signed five new insurance carriers to provide additional competitive price points and insurance coverage options to our consumers," Lorimer said.

"This quarter, total operating expenses were down by 9 percent, or over $2 million, from $25.3 million in the third quarter to $23.1 million in the fourth quarter of 2000. Sales and marketing expenses were down 6 percent and product and technology expenses were down 23 percent, as we capitalized $3.3 million of software cost investment in our iManager and Web site products. The fourth quarter also saw the commencement of our CarSmart business integration and an intensive cost/benefit analysis of our sales and service operations and marketing strategy. We expect these activities to bear fruit in the first quarter of 2001 and help us meet our third quarter 2001 profitability targets," Lorimer said.

About Autobytel.com Inc.

Autobytel.com Inc., a global leader in online automotive commerce, brings car buyers, owners, and sellers together, empowered by the Internet.

Through its automotive content and multiple purchasing, financing, insurance and service options, Autobytel.com offers consumers choice and peace of mind throughout the automotive lifecycle, while providing its network of accredited dealers and automotive services partners the most efficient way to reach online car buyers and owners.

Autobytel.com and its wholly-owned subsidiary, A.I.N. Corporation (CarSmart.com), have a network of over 5,000 dealers nationwide and are the seventh largest generator of automotive sales in the United States, just behind GM, Ford, DaimlerChrysler, Toyota, Honda and Nissan.

Autobytel.com has been ranked #1 in Dealer Satisfaction with Online Buying Services for three years in a row by J.D. Power and Associates.

Autobytel.com's car-buying program is available in the U.S. (www.autobytel.com), Canada (www.autobytel.ca), the United Kingdom (www.autobytel.co.uk), Sweden (www.autobytel.se), Japan (www.autobytel-japan.com), and Australia (www.autobytel.com.au).

Headquartered in Irvine, Calif., Autobytel.com is recognized as a company that transformed the $1 trillion new car industry when it invented online car buying.