LEESBURG, VA -- Precision Auto Care, Inc. has announced its financial results for the fiscal year ending June 30. Revenue was $11.7 million and profit was $721,000, or 2 cents per share, compared with a profit of $4.6 million, or 16 cents per share, on revenue of $12.8 million for the prior year.

For the quarter ending June 30, the company earned a profit of $127,000, or 0 cents per share on revenue of $3.1 million, compared to a profit of $2.3 million, or 8 cents per share on revenue of $3.5 million for the comparable quarter in 2005.

The company's President and Chief Executive Officer Robert Falconi, stated, "I am very pleased with the company's performance this past year. Operating profit was

$1.2 million. This is the fourth year in a row that the company has shown solid operating profit. The comparison with last year's profits has to take into account the fact that the company was able to recognize $3 million of deferred tax credits last year while we did not have that option this year. Most important, our stores are generating more sales. Same store sales were up 2.86 percent in FY06 and we have reason to believe that trend will continue and that the company will continue to operate profitably throughout FY07."

For more information about Precision Auto Care, visit: http://www.PrecisionTune.com.