AutoInfo, Inc. Announces Quarterly Results

BOCA RATON, FL -- (Marketwire) -- 05/16/12 -- AutoInfo, Inc. (OTCBB: AUTO), a non-asset based third party logistics service provider, today announced results of its operations for the quarter ended March 31, 2012. The Company reported gross revenues of $61.8 million as compared with $75.4 million for the prior year period. Revenues for 2011 included $21.4 million in revenue from a former significant agent for which the significant agent received 100% of the net revenue earned as described in detail in the management's discussion and analysis of financial condition and results of operations section of the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2012 filed with the Securities and Exchange Commission on May 14, 2012. Income from operations was $1.4 million as compared with $1.2 million for the prior year. The Company reported net income and basic earnings per share were $831,000 and $.02 per share, respectively, as compared with $655,000 and $.02 per share for the prior year period.

Harry Wachtel, President, stated, "We are pleased to report first quarter results reflecting continued growth of our agent network. In 2012, we will continue to broaden our transportation service offerings, expand our agent network and pursue strategic growth and other opportunities in furtherance of our mission to enhance stockholder values."

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, sales-type leases (which facilitate the acquisition of trucks by owner-operators), 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 and profits and interest earned on sales-type leases.

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.

                               AUTOINFO, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
             FOR THE THREE MONTHS ENDED MARCH 31, 2012 AND 2011
                                 (Unaudited)

                                                       2012         2011

                                                   ------------ ------------
Gross revenues                                     $ 61,800,000 $ 75,479,000
                                                   ------------ ------------

Income from operations                                1,437,000    1,240,000
                                                   ------------ ------------

Income before income taxes                            1,343,000    1,079,000
Income taxes                                            512,000      418,000
                                                   ------------ ------------

Net income                                         $    831,000 $    661,000
                                                   ============ ============

Net income per share: basic and diluted            $        .02 $        .02
                                                   ------------ ------------

Weighted average number of shares (basic)            34,132,000   33,604,000
                                                   ------------ ------------
Weighted average number of shares (diluted)          35,933,000   35,315,000
                                                   ------------ ------------





                    CONDENSED CONSOLIDATED BALANCE SHEETS
                 AS OF MARCH 31, 2012 AND DECEMBER 31, 2011

                                                     March 31,  December 31,
                                                       2012         2011
                                                   ------------ ------------
                                                                  (Audited)
Current assets:
  Cash and cash equivalents                        $    357,000 $    136,000
  Accounts receivable, net                           36,470,000   40,658,000
  Deferred income taxes                                       0       42,000
  Other current assets                                4,164,000    3,004,000
                                                   ------------ ------------
Total current assets                                 40,991,000   43,840,000

Other assets                                         15,469,000   15,267,000
                                                   ------------ ------------

Total assets                                       $ 56,460,000 $ 59,107,000
                                                   ============ ============

Current liabilities:
  Accounts payable and accrued liabilities         $ 18,873,000 $ 17,942,000

Loan payable                                         11,845,000   16,273,000

Stockholders' equity                                 25,742,000   24,892,000
                                                   ------------ ------------

Total liabilities and stockholders' equity         $ 56,460,000 $ 59,107,000
                                                   ============ ============

Contact:
William I. Wunderlich
Chief Financial Officer
(561) 988-9456 ext 201

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