Editor's note: Autobytel reported its third-quarter results on Thursday. Earlier versions of this story misstated when the company posted its results.
DETROIT -- Autobytel, a third-party lead generator for auto dealers and manufacturers, reported a modest net profit during the third quarter after revenues during the three months rose 26 percent.
The company said it posted net income of $446,000 for the quarter compared with a loss of $3.1 million during the same period last year.
Gross profits increased 38 percent from about $4.8 million in the third quarter 2010 to more than $6.5 million this year.
Total revenue increased to $16.3 million from $12.9 million a year ago.
CEO Jeffrey Coats was cautiously optimistic.
"We are profitable through the first nine months of 2011 and believe we will be able to generate net income for the full year," he said in statement on Thursday. "However, renewed uncertainties resulting from production-related inventory disruptions facing the automotive industry for the remainder of 2011 could impact our ability to do so."
Revenues from purchase requests, Autobytel's core business, rose more than 30 percent from the year-ago period. The company said its acquisition of Cyber Ventures in September 2010 helped propel purchase requests sold directly to automakers.
Autobytel's advertising revenues were lower because automakers cut spending after the Japanese earthquake and tsunami.
For the first nine months of 2011, Autobytel reported net income of $75,000, up from a net loss of $5.3 million in the year-ago period. Net revenues were $47.6 million for the first nine months, up 29 percent from $36.9 million in the corresponding period of 2010.
