Precision Auto Care announces year end results

Precision Auto Care, Inc. recently announced increasing same store sales and the purchase of two additional Precision Tune Auto Care centers, all of which boosted financial results for the fiscal year ending June 30, 2007. The company and its affiliate, Precision Franchising LLC, is a global franchisors of auto care centers, with 393 operating centers in current operation.

The company reported revenue of $12.1 million and a profit of $3.4 million, or $0.12 per share, compared with a profit of $721,000, or $0.02 per share, on revenue of $11.7 million for the prior year. For the quarter ending June 30, 2007, the company earned a profit of $3.2 million, or $0.11 per share on revenue of $3.2 million, compared to a profit of $127,000, or $0.00 per share on revenue of $3.1 million for the comparable quarter in 2006.

Precision Auto Care's President and CEO, Robert Falconi, says: "I am pleased with the company's performance this past year. This is the fifth year in a row that Precision Auto Care has shown solid operating profit and our balance sheet continues to get stronger. We have reason to believe that trend will continue and that the company will continue to operate profitably throughout (the coming fiscal year)."

Lou Brown, Chairman of PACI, adds: "The board of directors continues to be pleased with the company's operating results and the prospects for fiscal year 2008. The company's financial position is strong and looks better every quarter. The board of directors feels the company will grow in the upcoming year."

For more information about Precision Auto Care, Inc., visit the company's Web site.