Precision Auto Care Announces First Quarter FY 09 Results - aftermarketNews

Precision Auto Care Announces First Quarter FY 09 Results

Revenue was $3.2 million and loss was $6,000, or 0 cents per share, compared with a profit of $191,000, or 1 cent per share, on revenue of $3.1 million for the same period in the prior year.

LEESBURG, Va. — Precision Auto Care Inc. (PACI) has announced its financial results for the first quarter of fiscal year ending June 30, 2009. Revenue was $3.2 million and loss was $6,000, or 0 cents per share, compared with a profit of $191,000, or 1 cent per share, on revenue of $3.1 million for the same period in the prior year.

The company’s President and CEO, Robert Falconi, stated, "Even though PACI incurred a loss, I am still pleased with the company’s financial performance for the first quarter of FY09. We had an unusual out of period expense in the first quarter that caused the loss. Furthermore, revenues are up because of the company owned stores. All indicators point to profitability for the balance of FY09."

 

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