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Precision Auto Care Reports Second Quarter Results

Precision Auto Care reported a profit of approximately $266,000 or $0.01 per share for the fiscal quarter ending December 31, 2003, compared with a profit of $6.6 million or $0.44 per share for the comparable prior year quarter.

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LEESBURG, VA — Precision Auto Care reported a profit of approximately $266,000 or $0.01 per share for the fiscal quarter ending December 31, 2003, compared with a profit of $6.6 million or $0.44 per share for the comparable prior year quarter.

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“For the sixth consecutive quarter, we have generated positive EBITDA,” said Robert Falconi, president and COO. “Given the addition of some new Area Developers and other initiatives that we are taking to grow the number of centers and same store sales, I am hopeful that we will begin to see revenue increases in the months and years ahead of us. As we grow, we should be able to keep a tight lid on costs and raise our profit margin.”

To learn more about Precision Auto Care, go to: www.precisiontune.com.

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