OPENLANE, Inc. (KAR) released a profit for its fourth quarter that increased from last year in line with the Street estimates.
The company's earnings came in at $52.3 million, or $0.29 per share. This compares with $14.3 million, or $0.02 per share, last year.
Excluding items, OPENLANE, Inc. reported adjusted earnings of $30.5 million or $0.21 per share for the period.
Analysts on average had expected the company to earn $0.21 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 12.0% to $455.0 million from $406.1 million last year.
OPENLANE, Inc. earnings at a glance (GAAP) :
-Earnings: $52.3 Mln. vs. $14.3 Mln. last year.
-EPS: $0.29 vs. $0.02 last year.
-Revenue: $455.0 Mln vs. $406.1 Mln last year.
For comments and feedback: editorial@rttnews.com