logo
Share SHARE
FONT-SIZE Plus   Neg

KAR Auction Services Q4 Profit Rises

KAR Auction Services Inc. (KAR), Monday reported fourth-quarter net income of $14.5 million or $0.11 per share, as compared to $7.3 million or $0.05 per share in the fourth quarter last year.

Adjusted net income for the fourth quarter was $0.21 per share compared to $0.20 per share last year. On average, analysts polled by Thomson Reuters expected earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter was $479.8 million as compared to $443.2 million in the fourth quarter last year. Wall Street analysts on a consensus estimated revenues of $466.95 million for the quarter.

Looking forward to full year 2012, the company expects earnings in a range of $0.85 - $0.90 per share, and adjusted net income in a range of $1.15 - $1.20 per share. Analysts currently expect earnings of $1.23 per share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Nokia Corp. were gaining around 6 percent in mid-morning trading in Finland after the network equipment maker reported Thursday narrower loss in its first quarter. The company also reiterated its fiscal 2017 outlook for total cost savings. CEO Rajeev Suri said, "Overall, given Nokia's performance in the first quarter, I am optimistic about the year ahead, even if cautiously so." Aerospace and defense major Airbus Group SE reported Thursday higher profit and revenues in its first quarter with growth in all segments, except defence. Adjusted EBIT, a key earnings metric, meanwhile declined from last year. Looking ahead, for fiscal 2017, Airbus continues to expect mid-single-digit percentage growth in adjusted earnings per share and adjusted EBIT. Shares of AstraZeneca Plc were declining in the morning trading in London after the British drug giant reported Thursday weak profit and revenues in its first quarter, as product sales were hurt mainly by the residual impact of the US Crestor patent expiry. Core profit, however, increased with improved cost control. Further, the company confirmed its financial guidance for 2017.
comments powered by Disqus
Follow RTT