NowAuto Group, Inc. Announces Profitable September 30, 2005 Quarter Results
15 November 2005 - 1:35AM
PR Newswire (US)
SCOTTSDALE, Ariz., Nov. 14 /PRNewswire-FirstCall/ -- NowAuto Group,
Inc. (OTC:NAUG) (BULLETIN BOARD: NAUG) , operator of four Buy
Here/Pay Here auto dealerships in Arizona and a provider of GPS
technology and services, today reported results for its quarter
ended September 30, 2005. Consolidated revenue for the quarter
ended September 30, 2005 was $4,112,018. The increase in revenue in
the September 30, 2005 quarter was primarily due to the acquisition
of Sunburst Car Company located in Phoenix, Arizona. The after-tax
net profit for the quarter was $210,716, or $.02 per diluted common
share. The provision for income taxes represented the change in the
company's deferred tax asset as a result of the achieved profit in
the quarter. Exclusive of this charge, the net profit would have
been $.03 per share. For the quarter ended September 30, 2005 the
company's Buy Here/Pay Here and finance operations reported revenue
and pre-tax income of $3,970,899 and $439,027, respectively. The
company's NaviCom GPS, Inc. subsidiary reported quarterly revenue
of $141,119 and a pre-tax loss of $128,175. Statements contained in
this release, which are not historical facts, may be considered
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are based
on current expectations and the current economic environment. We
caution the reader that such forward-looking statements are not
guarantees of future performance. Unknown risks, uncertainties, as
well as other uncontrollable or unknown factors could cause actual
results to materially differ from the results, performance or
expectations expressed or implied by such forward-looking
statements. Contact: Scott Miller, CEO, 480-994-2281 This release
was issued through eReleases(TM). For more information, visit
http://www.ereleases.com/. DATASOURCE: NowAuto Group, Inc. CONTACT:
Scott Miller, CEO, NowAuto Group, +1-480-994-2281
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