28-Oct-14 18:02 ET In Play TrueCar sees Q3 non-GAAP net income of $0.02-0.04 mln vs Capital IQ Consensus Estimate for a breakeven quarter; sees Q3 revs of $56.6-56.8 mln vs $53.76 mln Capital IQ Consensus Estimate (17.26 +0.12) : Co provides the following preliminary key metrics:
Units are expected to be between 170,000 and 171,000. This represents an increase of 46% at the midpoint of the range as compared to 116,503 units in the third quarter of 2013.
Adjusted EBITDA (1) is expected to be between $3.7 million and $3.9 million. This compares to the Company's prior guidance of $2.0 million to $3.0 million, and represents an increase of 58% at the midpoint of the range, as compared to $2.4 million for the third quarter of 2013.
Franchise Dealer Count was 8,149 at September 30, 2014, representing an increase of 29% as compared to 6,327 at September 30, 2013.
28-Oct-14 17:40 ET In Play TrueCar files for 1 mln share offering of common stock by selling stockholders (17.26 +0.12) : Co announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of up to $125 million of its common stock. TrueCar expects to offer approximately 1,000,000 shares of common stock in the offering as well as any shares to be sold to the underwriters pursuant to their option to purchase additional shares, and the remainder of the shares being offered will be sold by certain existing stockholders of the company. TrueCar expects to use the net proceeds that it receives from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures. TrueCar will not receive any proceeds from the sale of the shares by the selling stockholders. J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as lead book-running managers for the offering. |
