Precision Auto Care Announces Second Quarter FY 08 Results

LEESBURG, Va., Feb. 12 // PRNewswire-FirstCall // -- Precision Auto Care, Inc. (OTC Bulletin Board: PACI) announced its financial results for the second quarter of fiscal year ending June 30, 2008. Revenue was $3.0 million and profit was $75,000, or $0.00 per share, compared with a loss of $38,000, or $0.00 per share, on revenue of $2.8 million for the same period in the prior year.

The Company's President and CEO, Robert Falconi, stated, "I am generally pleased with PACI's financial performance for the second quarter of FY08. Revenues are up because of the company owned stores and now that we have added two more company stores, I expect revenues to increase even more. I am confident that we will remain profitable and our balance sheet will continue to get stronger every quarter."

Lou Brown, Chairman of PACI, said, "The Board of Directors is pleased with the Company's positive operating results and the prospects for increased revenues. We remain excited about the potential for the company owned stores to increase both revenue and profit. "

Precision Auto Care, Inc.'s affiliate, Precision Franchising LLC, is one of the world's leading franchisors of auto care centers, with 392 operating centers as of February 8, 2008. The Company franchises Precision Tune Auto Care centers around the world.

Cautionary Statement: The statements in this press release contain forward-looking statements within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. These statements are based on the Company's current expectations, estimates and projections. Statements that are not historical facts are forward-looking statements and typically are identified by words like "believe," "anticipate," "could," "estimate," "expect," "intend," "plan," "project," "will" and similar terms. These statements are not guarantees of future performance, events or results and involve potential risks and uncertainties. Accordingly, actual results may differ from current expectations, estimates and projections. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that may impact the Company's actual results include: (i) business conditions and the general economy; (ii) the federal, state and local regulatory environment; (iii) increased competitive pressure in the automotive after-market services business; (iv) significant automotive technology advances; (v) management's ability to execute the Company's business plan; and (vi) the Company's ability to sell franchises in each state. Additional information concerning risks and uncertainties that could cause actual results to differ materially from those projected or suggested in the forward-looking statements are in the Company's filings with the Securities and Exchange Commission and in its Annual Report on Form 10-KSB for the year ended June 30, 2007. The forward-looking statements contained in this prospectus represent the Company's judgment as of the date of this prospectus, and you should not unduly rely on these statements.


Three Months Ending December 31,

000s except per share amounts
2007 2006
Revenue $ 3,031 $ 2,823
Net income $ 75 $ (38)
Diluted income per share $ 0.00 $ 0.00
Shares outstanding - diluted 29,284 29,090


Six Months Ending December 31,

000s except per share amounts
2007 2006
Revenue $ 6,113 $ 5,615
Net income $ 266 $ 131
Diluted income per share $ 0.01 $ 0.00
Shares outstanding - diluted 29,145 29,170



SOURCE Precision Auto Care, Inc.

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

The Simple Greek
The Simple Greek is redefining the traditional Greek restaurant with an interactive concept that combines premium ingredients, open kitchens and...
Papa Murphy's Take 'N' Bake Pizza
The world's largest, fastest growing Take 'N' Bake pizza franchise is offering you something fresh.
Quaker Steak & Lube®
Founded in 1974 in Sharon, PA, the award-winning casual dining restaurant chain has expanded over 55 locations throughout the United States and Canada
Lightbridge Academy
Lightbridge Academy has a way of making parents and children feel like they’re special. Here, they are surrounded by a Circle of Care that’s more...
Discovery Point Child Development Centers®
Leading education-based childcare franchise founded in 1988 with corporate headquarters in Atlanta, GA. with a turnkey business model, real estate...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)