KAR Auction Services, Inc. Q4 Profit Increases, beats estimates

(RTTNews) - KAR Auction Services, Inc. (KAR) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $41.9 million, or $0.21 per share. This compares with $15.2 million, or $0.04 per share, in last year's fourth quarter.

Excluding items, KAR Auction Services, Inc. reported adjusted earnings of $47.6 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.2% to $372.8 million from $357.7 million last year.

KAR Auction Services, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $41.9 Mln. vs. $15.2 Mln. last year. -EPS (Q4): $0.21 vs. $0.04 last year. -Analyst Estimate: $0.17 -Revenue (Q4): $372.8 Mln vs. $357.7 Mln last year.