Lithia Motors Q4 Results Beat Estimates - Quick Facts

(RTTNews) - Lithia Motors Inc.'s (LAD) fourth-quarter 2013 net income grew to $27.37 million or $1.04 per share, from $19.83 million or $0.76 per share, last year. Adjusted net income from continuing operations totaled $25.75 million, or $0.98 per share during the latest quarter. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.91 for the quarter. Analysts' estimates typically exclude special items.

The company said that the 2013 fourth quarter adjusted income from continuing operations is reduced to exclude a benefit of $0.06 per share for a gain on a sale of land and a $0.05 per share net benefit from non-core tax attributes, offset by a non-core charge of $0.06 per share related to an adjustment to a legal reserve associated with a lawsuit filed in 2006 and settled in 2013. The prior-year quarter's adjusted results from continuing operations exclude a benefit of $0.02 per share for a non-core tax attribute.

Quarterly total revenues were $1.02 billion, compared with $877.37 million, a year earlier, with total same-store sales up 11%. Seven analysts expected revenue of $1.01 billion for the quarter.