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
Anglo-Dutch oil giant Royal Dutch Shell plans to cut 2,200 more jobs, as the company continues to face lower oil prices, media reported Wednesday citing an emailed statement. The latest round of cuts would bring the total job cuts this year to at least 5,000 globally. In the U.K. and Ireland, the company plans to reduce staff working in exploration and production by 475. Tiffany & Co. (TIF) reported first-quarter net earnings of $87 million, or $0.69 per share compared to $105 million, or $0.81 per share, in the prior year. The company noted that its first-quarter results included a tax benefit of $0.05 per share related to the settlement of a tax examination. On average,... Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017.
comments powered by Disqus
Follow RTT