Green Auto Stock Alert: Zipcar (NASDAQ:ZIP) Gains Following Third Quarter Results

New York, NY, Point Roberts, WA - November 9, 2012 (Investorideas.com renewable energy/ green newswire) Investorideas.com staff - Investorideas.com, a leader in renewable energy stock research for independent investors, issues a trading alert for green car stock Zipcar, Inc. (NasdaqGS : ZIP), trading at $7.15, up $1.11 or 18.38% as of 10:30AM EST. The stock traded as high as $7.50 on over 1.3 Million shares, making the NASDAQ top gainers list in morning trading. The stock moved following impressive third quarter results reported yesterday.

Highlights

• Third quarter revenue increased 15% to $78.2 million compared to $68.1 million in the prior year period
• Total members grew 18% from the prior year period to over 767,000 at quarter end
• Third quarter adjusted EBITDA of $6.5 million compared to $4.6 million in the prior year period
• Third quarter US GAAP net income of $4.3 million, or $0.10 per diluted share, compared to net income of $651,000, or $0.02 per diluted share in the prior year period
• Launched Miami as 20th major metro market
• Surpassed the 300 mark of campuses participating in the Zipcar for University program
• Continued European expansion with completion of the integration of Barcelona-based Avancar, Spain's largest car sharing service, and the acquisition of Carsharing.at, a leading Austrian car sharing network
• Launched Zipvan service in Seattle, Los Angeles, Philadelphia and Portland, Oregon

Zipcar is the world's leading car sharing network with more than 767,000 members and 10,000 vehicles in urban areas and college campuses throughout the United States, Canada, the United Kingdom, Spain and Austria. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. www.zipcar.com
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