Autobytel Inc. (NASDAQ:ABTL) Q4 2014 Earnings Conference Call - Final Transcript

Feb 26, 2015 • 12:00 am ET

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Autobytel Inc. (NASDAQ:ABTL) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Good afternoon everyone and thank you for participating in today's conference call to discuss Autobytel's Financial Results for the Fourth Quarter and Full Year ended December 31, 2014.

Joining us today are Autobytel's President and CEO, Jeff Coats; the company's CFO, Curt DeWalt; the company's SVP of Business Analyst and Website, Kim Boren; and the company's outside IR Advisor, Cody Slach with the Liolios Group. Following their remarks we'll open the call for your questions.

As a reminder, today's call is being recorded. I would now like to turn the call over to Mr. Slach for some introductory comments.

Executive
Cody Slach

(Forward-Looking Cautionary Statements) And with that I will now turn the call over to Jeff. Jeff?

Executive
Jeff Coats

Good afternoon everyone. Thank you for joining us today to discuss our fourth quarter and full year 2014 results. We are pleased to note that we either achieved or exceeded our Q4 guidance on all metrics. 2014 was a pivotal year as we generated increases in nearly every metric of our business, most notably record revenues, an 84% increase in non-GAAP income and a 30% increase in lead volume. This performance reflected the significant expansion of our dealer footprint, as well as improvement in the quality of our leads.

Strategically, we made great strides in 2014 with the successful acquisition and integration of AutoUSA, as well as the advancement of several new product offerings that continue to gain market traction. We are also beginning to experience meaningful contributions from our commercial relationship with AutoWeb, which is driving growth in our advertising business.

As announced over a month ago, we promoted Kim Boren to CFO to succeed Curt effective April 1, 2015. Curt has served as an exceptional finance executive for Autobytel and was instrumental to our progress and growth over the last seven and half years. We thank him for his service and appreciate his assistance during this transition and wish him all the best in his future endeavors.

As many of you know, Kim was a member of Autobytel's financial analysis and planning group from July 2007 to June 2009 and rejoined the company in April 2010 as our Senior Director of Financial Planning and Analytics. After a series of promotions Kim was most recently the company's SVP of Business Analysis and Websites, a position she has held since February 2014. Kim has the full confidence of the Senior Management and Board of Directors and we all look forward to working with her in this new role.

Now I'd like to turn the call over to Curt as he introduces Kim on her well-deserved appointment. Curt.

Executive
Curt DeWalt

I thoroughly enjoyed my seven and half years at Autobytel, six as CFO and I'm appreciative of the opportunity to contribute to the Autobytel team and its turnaround. While entering the next chapter of my life, I'm happy to serve the company in a consultant capacity to assist in its continued success. Nevertheless with Kim and the financial team in place, I'm confident that I leave the company in