truecar inc (TRUE) Key Developments
California New Car Dealers Association Files Legal Action against TrueCar for Non-Compliance with State’s Laws
May 21 15
California New Car Dealers Association filed legal action against TrueCar for its noncompliance with various sections of the California Vehicle Code pertaining to dealer licensing, brokering, advertising and disclosure. Patricia Glaser of the highly respected law firm Glaser Weil filed this litigation in Santa Monica. In legal action filed today, in Los Angeles Superior Court Santa Monica branch, TrueCar is charged with violating key statutes and because of this, both the consumer and new car dealers are not being protected. Based on its conduct, TrueCar acts as a 'Dealer' and a 'Broker', the companies believe TrueCar is in violation of existing consumer protection laws, as TrueCar does not have a Dealer or Auto Broker license.
TrueCar, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015; Reiterates Earnings Guidance for the Full Year Ending December 31, 2015
May 7 15
TrueCar, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $58.554 million against $43.930 million a year ago. Loss from operations was $11.400 million against $9.518 million a year ago. Loss from operations was $11.400 million against $9.518 million a year ago. Net loss was $11.623 million against $9.921 million a year ago. Basic and diluted net loss per share was $0.14 against $0.17 a year ago. Adjusted EBITDA was $4.285 million against $0.998 million a year ago. Non-GAAP net income was $0.126 million against non-GAAP net loss of $2.519 million a year ago.
The company's guidance for the second quarter ending June 30, 2015 is as: revenues are expected to be in the range of $67.0 million to $69.0 million, on units of 205,000-210,000. Adjusted EBITDA is expected to be in the range of $5.5 million to $6.5 million.
The company is reiterating guidance for the full year ending December 31, 2015 as: Revenues are expected to be in the range of $280.0 million to $290.0 million, on units of approximately 825,000. Adjusted EBITDA is expected to be in the range of $26.6 million to $29.0 million.
TrueCar, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-13-2015 09:30 AM
May 6 15
TrueCar, Inc. Presents at 16th Annual B. Riley & Co. Investor Conference, May-13-2015 09:30 AM. Venue: Loews Hollywood Hotel, Los Angeles, California, United States. Speakers: Scott Painter, Co-Founder, Chairman and Chief Executive Officer.
TrueCar, Inc. Provides Sales Guidance for the Month of April 2015
Apr 27 15
TrueCar, Inc. provided sales guidance for the month of April 2015. For the period, the company projects April auto sales will expand to a seasonally adjusted annualized rate (SAAR) of 16.8 million new units. New vehicle sales, including fleet deliveries, should rise 6.1% to 1,475,000 units for the month. With the same number of selling days compared to April 2014, deliveries will also increase 6.1% on a daily selling rate (DSR) basis. The SAAR is up 4.7% from 16.1 million last year.
TrueCar, Inc. to Report Q1, 2015 Results on May 07, 2015
Apr 21 15
TrueCar, Inc. announced that they will report Q1, 2015 results After-Market on May 07, 2015