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
HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had... Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled.
comments powered by Disqus
Follow RTT