The Company's President and CEO,
Precision Auto Care, Inc.'s affiliate, Precision Franchising LLC, is one
of the world's leading franchisor of auto care centers, with 382 operating
centers as of
Cautionary Statement: The statements in this press release contain
forward-looking statements within the meaning of the Securities Act of 1933 or
the Securities Exchange Act of 1934. These statements are based on the
Company's current expectations, estimates and projections. Statements that
are not historical facts are forward-looking statements and typically are
identified by words like "believe," "anticipate," "could," "estimate,"
"expect," "intend," "plan," "project," "will" and similar terms. These
statements are not guarantees of future performance, events or results and
involve potential risks and uncertainties. Accordingly, actual results may
differ from current expectations, estimates and projections. The Company
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. Important
factors that may impact the Company's actual results include: (i) business
conditions and the general economy; (ii) the federal, state and local
regulatory environment; (iii) increased competitive pressure in the automotive
after-market services business; (iv) significant automotive technology
advances; (v) management's ability to execute the Company's business plan;
and (vi) the Company's ability to sell franchises in each state. Additional
information concerning risks and uncertainties that could cause actual results
to differ materially from those projected or suggested in the forward-looking
statements are in the Company's postings to the Pink Sheets website for the
year ended
Three Months Ending June 30 000s except per share amounts 2008 2007 Revenue $ 3,369 $ 3,176 Net income $ 162 $ 3,173* Diluted income per share $ 0.01 $ 0.11 Shares outstanding - diluted 29,006 29,060 * Includes release of the valuation allowance of approximately $2.9 million for the three months ended June 30, 2007. Twelve Months Ending June 30 000s except per share amounts 2008 2007 Revenue $ 12,716 $ 12,072 Net income $ 600 $ 3,407** Diluted income per share $ 0.02 $ 0.12 Shares outstanding - diluted 29,056 29,118 ** Includes release of the valuation allowance of approximately $2.9 million for the year ended June 30, 2007.
SOURCE Precision Auto Care, Inc.