LEESBURG, VA --
Precision Auto Care, Inc. (PACI) announced its financial results for the second
quarter of fiscal year ending Dec. 31, 2005. Revenue was $2.7 million and
profit was $207,000, or 1 cent per share, compared with a profit of $400,000,
or 1 cent per share, on revenue of $2.8 million for the same period in the
prior year.
The company's president, Robert Falconi, stated, "The financial results
for the past quarter were solid and I am pleased with PACI's financial
performance. Our balance sheet continues to get stronger every quarter. While
the results are not as impressive as the numbers from last year, there are
mitigating circumstances. Last year, we did not have to recognize a tax
expense and last year operating profits were very close to $1 million due in
large part to the $500K sale of the rights to the Seattle market which was a
one time event. I am confident we will continue to remain profitable for the
balance of FY06.
For more information about the company, go to: www.PrecisionTune.com .
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