logo
Share SHARE
FONT-SIZE Plus   Neg

AutoChina International Turns To Profit In Q4 - Quick Facts

AutoChina International Ltd. (AUTCF.OB) reported that its fourth-quarter net income was $6.9 million or $0.29 per share, compared to a net loss of $4.2 million, or $0.22 per share in the year ago quarter. The year-over-year increase of net income from a net loss position primarily resulted from the decrease of loss on change in fair value of the Earn-out obligation.

Adjusted net income was $6.9 million, compared to $10.9 million for the fourth quarter of 2010.

Revenues for the fourth quarter was $107.4 million, compared to the $155.9 million reported in the fourth quarter of 2010. The decrease in revenues primarily resulted from lower demand for heavy trucks from the extraordinarily robust levels in 2010, which was partially offset by higher finance and insurance income during the period. The Company reported $83.4 million in commercial vehicle revenues, and $24.0 million, or 22.3% of revenues, related to finance and insurance.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Google Maps introduced a new feature to share real-time location to a contact for 15 minutes to 3 days. The feature can be turned off at any time by the user. The tech leader believes that the feature will help friends meet up in a large park or a restaurant at a new location. One can open share... Instagram is expected to announce Wednesday that it has one million monthly active advertisers, representing a five-fold increase from a year ago. The photo and video app, owned by Facebook, had 500,000 monthly active advertisers in September 2016 and just 200,000 active advertisers a year ago. Offensive and extremist content appearing along with display ads has been creating headache for Google. There has been strong protests and boycott of ads by major advertisers and this has forced the company to expand their controls. The tech giant said the advertisers will have more say to display...
comments powered by Disqus
Follow RTT