Zipcar, Inc. (ZIP) reported net income for the fourth quarter of $13.8 million or $0.34 per share, compared to $3.9 million or $0.09 per share for the year-ago quarter.
The latest quarter results include a non-cash net tax benefit of $10.9 million or $0.27 per share mainly related to the release of valuation allowance against U.S. net deferred tax assets as well as $1.3 million from the unanticipated sale of ZEV Credits,which were partially offset by about $1.0 million in previously anticipated costs associated with Hurricane Sandy, including vehicle damages and increased operating costs, and $0.8 million in costs tied to the merger agreement with Avis Budget Group, Inc. (CAR).
Fourth quarter revenue increased 12% to $70.7 million from $62.9 million in the prior year quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.