logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
RELATED NEWS
Trade KAR now with 
Follow RTT