Key Developments For DealerTrack Holdings Inc
DealerTrack Holdings Inc (TRAK.O) (Nasdaq)
DealerTrack Holdings, Inc. Lowers FY 2009 Revenue Guidance; Raises FY 2009 Earnings Guidance
DealerTrack Holdings, Inc. updated fiscal 2009 guidance for revenue and GAAP and non-GAAP earnings guidance. Revenue is expected to be between $227.0 and $229.0 million, compared to the previous guidance of $228.0 to $232.0 million, GAAP net loss is expected to be between $(4.9) and $(3.4) million, compared to the previous estimate of $(4.3) to $(2.8) million and GAAP net loss per share is expected to be between $(0.12) and $(0.08), compared to the previous estimate of $(0.11) to $(0.07). Non-GAAP adjusted EBITDA is expected to be between $33.0 and $35.0 million, compared to the previous estimate of $32.0 to $34.0 million, non-GAAP cash net income is expected to be between $19.9 and $21.4 million, compared to the previous estimate of $17.9 to $19.4 million and non-GAAP diluted cash net income per share is expected to be between $0.48 and $0.52, compared to the previous estimate of $0.43 to $0.47. According to Reuters Estimates, analysts on an average were expecting the Company to report non-GAAP earnings per share (EPS) of $0.47 and revenue of $230.1 million for fiscal 2009.
DealerTrack Holdings, Inc.'s DealerTrack Systems, Inc. Completes Integration of Its DMS With KIA Motors America's Dealer Communications
DealerTrack Systems, Inc., a subsidiary of DealerTrack Holdings, Inc. announced that it has completed the integration of the DealerTrack Dealer Management System (DMS) with KIA Motors America's Web based dealer communications system. With this integration, information now transfers seamlessly from one system to another without having to be re-keyed, enhancing efficiency and eliminating potential data errors. The transactions and communications supported include the dealer's submission of financial statements, vehicle delivery reporting, parts orders, parts returns, and repair order warranty submission.
DealerTrack Holdings, Inc.'s DealerTrack, Inc. And CDMdata, Inc. Announce Enhanced Strategic Relationship
CDMdata, Inc. and DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. announced an enhanced strategic relationship. The companies will work together to leverage DealerTrack's vehicle inventory data and analytics integrating CDMdata's Internet marketing experience and Kelley Blue Book's marketing and valuation expertise. This enhanced relationship will provide dealers with additional data driven efficiencies throughout the entire vehicle sales and marketing process. The relationship will enable dealers to provide more accurate vehicle details, images and customized vehicle comments through one data entry point, eliminating the need to update multiple automotive sales Web sites.
General Motors Selects DealerTrack Holdings, Inc.'s Chrome Systems Inc
Chrome Systems Inc., a subsidiary of DealerTrack Holdings, Inc. announced that General Motors has selected Chrome as the exclusive provider of a fully integrated accessories solution that GM is now offering its dealers across the United States. This comprehensive and cost effective digital marketing solution provides GM dealers with functionality to increase their accessory sales and profitability.
DealerTrack Holdings, Inc. Lowers FY 2009 Revenue Guidance; Raises FY 2009 Earnings Guidance
DealerTrack Holdings, Inc. lowered revenue and raised GAAP and non-GAAP earnings guidance for fiscal 2009. The Company expects revenue to be between $228.0 and $232.0 million, compared to the previous estimate of $232.0 to $238.0 million, GAAP net loss to be between $(4.3) and $(2.8) million, compared to the previous estimate of $(7.0) to $(5.5) million, GAAP net loss per share to be between $(0.11) and $(0.07), compared to the previous estimate of $(0.18) to $(0.14), adjusted EBITDA to be between $32.0 and $34.0 million, compared to the previous estimate of $31.0 to $33.0 million, cash net income to be between $17.9 and $19.4 million, compared to the previous estimate of $16.7 to $18.2 million, and diluted cash net income per share (EPS) to be between $0.43 and $0.47, compared to the previous estimate of $0.40 to $0.44. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.42, net profit of $16.9 million and EBITDA of $33.6 million on revenue of $230.8 million for fiscal 2009.
