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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: reikjavic who wrote (78861)	6/10/1999 10:33:00 AM
From: 2MAR$	of 119973

(REUTERS) Autobytel.com agrees with estimates of higher revs Autobytel.com agrees with estimates of higher revs NEW YORK, June 10 (Reuters) - Online car seller Autobytel.com Inc.'s <ABTL.O> chief executive officer said Thursday he was comfortable with analysts' estimates that company revenues will rise to $34 million this year from $24 million in 1998. "I am fine with those numbers," CEO Mark Lorimer told an analysts' conference. He said the company would grow through international expansion, although its initial efforts in Europe have been criticized. In the UK, manufacturers do not provide invoice information the company is able to provide to its U.S. customers, Lorimer said. Chief Financial Officer Hoshi Printer said he sees revenue growth from Autobytel.com's higher-margin non-car-sales services, such as car insurance and financing, and advertising on its Web site. The company currently makes 95 percent of its sales from dealer fees and 5 percent from the non-car-sales business. Printer said he sees 20 percent of the company's business coming from the added services within the next three to five years. Autobytel.com on Wednesday said it would offer for sale thousands of used cars through Yahoo! Inc.'s <YHOO.O> Autos service. Autobytel.com shares were off 7/8 at 19-1/2 in morning trade. ((--Nicole Volpe, New York Newsdesk (212) 859-1700)) REUTERS * end of story *

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