logo
Share SHARE
FONT-SIZE Plus   Neg

Avis Budget Sees Q1 Adj. Net Profit Of About $14 Mln; Gives 2012 Outlook

Avis Budget Group Inc. (CAR: Quote) has issued preliminary results for its first quarter ended March 31, 2012 and estimates of its full-year 2012 results. The company said it expects first-quarter net income of around $14 million, excluding certain items, and a GAAP net loss of nearly $23 million, due to debt extinguishment costs and acquisition-related charges. First-quarter revenue is anticipated to be $1.6 billion.

Further, the company expects full-year 2012 revenue to range between $7.3 billion and $7.6 billion. Avis Budget also forecasts effective tax rate in 2012 to be 34% - 38%, excluding certain items, and diluted share count to be some 125 million. Based on these expectations, 2012 earnings per share, excluding certain items, is projected to be about $2.35 - $2.65.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple will unveil its Apple Watch with a battery that may last only 2.5 to 4 hours on very active use, according to a report in 9to5mac. "People with knowledge of the Apple Watch's development have provided us with the specific performance targets Apple wants to achieve for the Apple Watch battery,... HARMAN International Industries, Inc. (HAR) announced it has signed an agreement with Symphony Technology Group to acquire Symphony Teleca, a privately-held global software services company. Check out this story for a look at some of We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015.
comments powered by Disqus
RELATED NEWS
Trade CAR now with 
Follow RTT