ATLANTA -- Vehicle emissions testing and safety inspections company Speedemissions Inc. has announced its financial results for the second quarter ended June 30.

Revenue increased 2.7 percent to $2.6 million for the second quarter of 2009, compared to revenue of $2.5 million for the second quarter of 2008. The increase in revenue was led by a 5.5 percent increase in same store sales over the comparable period of 2008. General and administrative expenses decreased 28.2 percent to $361,063 during the second quarter of 2009 compared to $502,637 in the same period of the prior year.

Net income for the second quarter increased to $102,916 or 1 cent per diluted share from a net loss of $173,646, or (3 cents) per diluted share in the comparable period of 2008.

The company opened its 4th store in St. Louis increasing its total number of stores to 40.

Year-to-date, revenue increased 2.2 percent to $5.1 million for the six-month period ended June 30, compared to revenue of $4.9 million in the six-month period ended June 30. Same store sales increased 2.2 percent in the six-month period ended June 30, over the comparable period of 2008.

General and administrative expenses decreased 33 percent to $662,419 during the six-month period ended June 30, compared to $988,083 in the six-month period ended June 30, 2008.

Net income for the six-month period increased to $145,068 or 2 cents per diluted share from a net loss of $349,278 or (7 cents) per diluted share. Since Dec. 31, 2008, the company said it has increased its cash balances by 17.9 percent and decreased its total liabilities by 15.2 percent.

Richard Parlontieri, president and chief executive officer of Speedemissions, commented, “We’re encouraged that despite the most severe recession in recent history, we were able to increase revenue, increase same store sales, generate net income for the second consecutive quarter, increase our cash balance and reduce our liabilities during the quarter and first six months of 2009. While we’ve made great progress over the past 12 months in our store operations, we need to find more ways of doing business which means driving more revenue and income to our stores.”