dealertrack technologies inc (TRAK) Snapshot

Dealertrack Technologies, Inc. has introduced TradeDriver(TM), a powerful online trade-in appraisal tool. TradeDriver enables dealers, OEMs and third-party portals to present customized vehicle trade-in appraisal offers directly to consumers on their websites. This powerful tool leverages local market data and features dealer-controlled appraisal values, resulting in realistic appraisals for used vehicles through the combination of Dealertrack analytics, dealer-configured settings and Black Book(R) data. TradeDriver is available as a web service for partner integration and as a website plug-in for dealerships' websites. TradeDriver and the rest of Dealertrack's Digital Retailing online solutions, including SmartFind, PaymentDriver and FinanceDriver functionality, can be integrated into third-party dealer websites and are also included as a core component of Dealertrack's Interactive Suite for dealer websites.

Dealertrack Technologies, Inc. Presents at Barclays Global Technology, Media and Telecommunications Conference, May-23-2013 03:10 PM. Venue: Crowne Plaza Times Square, 1605 Broadway (at 49th Street), New York, New York, United States. Speakers: Mark F. O'Neil, Chairman, Chief Executive Officer, President, Chairman of Dealertrack Inc and Chief Executive Officer of Dealertrack Inc.

Dealertrack Technologies, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company's net revenue was $109,059,000 against $91,617,000 a 19% increase from a year ago and a 12% increase on an organic basis. Income from operations was $751,000 against $1,345,000 a year ago. Loss before benefit from income taxes, net was $1,204,000 against income before provision for income taxes, net of $28,350,000 a year ago. Net loss was $34,000 against net income of $16,961,000 or $0.39 per diluted share a year ago. Adjusted EBITDA (non-GAAP) was $24,229,000 against $19,419,000 a year ago. Adjusted net income (non-GAAP) was $12,036,000 or $0.27 per diluted share against $9,444,000 or $0.22 per diluted share a year ago. Net cash used in operating activities was $5,000,000 against net cash provided by operating activities of $851,000 a year ago. Capital expenditures were $2,027,000 against $1,695,000 a year ago. Capitalized software and website development costs were $5,296,000 against $3,665,000 a year ago. EBITDA (non-GAAP) was $15,933,000 against $41,256,000 a year ago. The company revised earnings guidance for the year ending December 31, 2013 to reflect the acquisition of Casey & Casey. Revenue for the year is expected to be between $453.0 million and $462.0 million, an increase from prior guidance of between $447.0 million and $456.0 million. GAAP net income for the year is expected to be between $9.5 million and $12.5 million, a decrease from prior guidance of between $10.0 million and $13.0 million. Diluted GAAP net income per share for the year is expected to be between $0.21 and $0.28, a decrease from prior guidance of between $0.22 and $0.29 per share. Adjusted EBITDA for the year is expected to be between $112.5 million and $116.5 million, an increase from prior guidance of between $111.0 million and $115.0 million. Adjusted net income for the year is expected to be between $55.0 million and $58.0 million, an increase from prior guidance of between $54.0 million and $57.0 million. Diluted adjusted net income per share for the year is expected to be between $1.21 and $1.28, an increase from prior guidance of between $1.19 and $1.26. The tax impact of adjustments are based on a blended tax rate of 38% applied to taxable adjustments. Guidance for 2013, continue to anticipate that new car sales will grow approximately 800,000 units in 2013 to 15.2 million units. The company expects used car supply to remain relatively tight, making it difficult for the used car market to match last year's strong second half volumes. The company anticipates approximately $45 million of capital expenditures in 2013, an increase of $1 million due to the Casey & Casey acquisition.