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AutoInfo, Inc. Announces Third Quarter Results

AutoInfo, Inc. (OTCBB: AUTO), a non-asset based transportation services company, today announced results of its operations for the quarter and nine months ended September 30, 2011.

For the nine months ended September 30, 2011, the Company reported gross revenues of $247.8 million as compared with $200.4 million for the prior year period. Income from operations was $4.5 million as compared with $3.7 million for the prior year period. Net income was $2,509,000 and basic earnings per share were $.07 per share for the current period, as compared with $1,985,000 and $.06 per share for the prior year period.

For the three month period ended September 30, 2011, the Company reported gross revenues of $85.4 million as compared with $74.0 million for the prior year period. Income from operations was $1.7 million as compared with $1.5 million for the prior year period. Net income was $944,000 and basic earnings per share were $.03 per share for the current period, as compared with $833,000 and $.02 per share for the prior year period.

Harry Wachtel, President, stated, "We are pleased to report third quarter and nine month results reflecting significant increases in revenues and profits over the prior year period. In 2011, we have continued to broaden our service lines and expand our agent network as we continue to focus on opportunities through both intrinsic and external growth. In July we acquired the non-asset based truck agent business unit from a significant agent and have integrated operations. As we near the end of 2011, we will continue to broaden our transportation service offerings, expand our agent network and pursue strategic growth opportunities."

AutoInfo, Inc. operates in two business segments, non-asset based transportation services and agent support services. The non-asset based transportation services segment includes our brokerage and contract carrier services which are provided through a network of independent sales agents throughout the United States and Canada. Revenue in this segment is generated from freight transportation transactions. The agent support services segment includes an array of services that we provide to our agent network to support and encourage the expansion of our agents' businesses, primarily financial support through interest bearing long-term loans and non-interest bearing short-term loans, as well as other services including training, margin analysis, marketing assistance, industry and market segment data and business analysis tools. Revenue in this segment consists primarily of interest on interest bearing loans.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.

                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  Unaudited

                             Nine Months Ended         Three Months Ended
                                September 30              September 30
                             2011         2010         2011         2010
                         ------------ ------------ ------------ ------------

Gross revenues           $247,803,000 $200,439,000 $ 85,359,000 $ 73,963,000
                         ------------ ------------ ------------ ------------

Income from operations      4,484,000    3,770,000    1,651,000    1,529,000
                         ------------ ------------ ------------ ------------

Income before income
 taxes                      4,081,000    3,240,000    1,532,000    1,353,000
Income taxes                1,572,000    1,255,000      588,000      520,000
                         ------------ ------------ ------------ ------------

Net income               $  2,509,000 $  1,985,000 $    944,000 $    833,000
                         ============ ============ ============ ============

Net income per share:
  Basic                  $        .07 $        .06 $        .03 $        .02
  Diluted                $        .07 $        .06 $        .03 $        .02
Weighted average number
 of Common shares:
  Basic                    33,854,000   33,496,000   34,043,000   33,496,000
  Diluted                  35,341,000   34,549,000   35,194,000   34,591,000



                    CONDENSED CONSOLIDATED BALANCE SHEETS
               AS OF SEPTEMBER 30, 2011 AND DECEMBER 31, 2010

                                                 September 30,  December 31,
                                                      2011          2010
                                                 ------------- -------------
                                                  (Unaudited)    (Audited)
Current assets:
  Cash and cash equivalents                      $     139,000 $     316,000
  Accounts receivable, net                          50,860,000    49,736,000
  Current portion of advances and other assets       1,214,000     2,117,000
  Prepaid expenses                                   2,041,000     1,139,000
  Deferred income taxes                                328,000       135,000
                                                 ------------- -------------
Total current assets                                54,582,000    53,443,000

Other assets                                        14,928,000    13,284,000
                                                 ------------- -------------

Total assets                                     $  69,510,000 $  66,727,000
                                                 ============= =============

Current liabilities:
  Accounts payable and accrued liabilities       $  27,401,000 $  23,188,000

Loan payable                                        18,379,000    22,432,000

Stockholders' equity                                23,730,000    21,107,000
                                                 ------------- -------------

Total liabilities and stockholders' equity       $  69,510,000 $  66,727,000
                                                 ============= =============