Online car seller Autobytel.com Inc. has warned of weaker second quarter results citing the unfavorable economic environment that has dried advertising spending.
The Irvine, California-based company said it now expects a net loss per share of between 13 cents and 17 cents, excluding charges, on revenues ranging from $15.5 million to $16 million. Including charges, losses for the quarter could mount to a range of between $1.75 and $1.85 per share.
In the quarter ended in June, Autobytel.com expects charges of about $34 million, the bulk of it stemming from the write-down of goodwill booked in connection with its acquisition of CarSmart.
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