AutoNation Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 31, 2013 at 07:39 am
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AutoNation Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income from continuing operations of $82.9 million or $0.67 per diluted share, compared to net income from continuing operations of $69.9 million or $0.50 per diluted share for the same period a year ago. Total revenue was $4,173.5 million compared to $3,678.4 million for the same period a year ago. Operating income was $168.7 million compared to $143.5 million a year ago. Income from continuing operations before income taxes were $135.0 million compared to $112.8 million for the same period a year ago. Net income was $83.2 million or $0.67 per diluted share compared to $69.4 million or $0.49 per diluted share a year ago. Capital expenditures were $60.8 million compared to $44.5 million a year ago. AutoNation's retail new vehicle unit sales increased 17% on a same store basis and were up 18% overall. Adjusted net income was $82.9 million or $0.67 per diluted share compared to $71.3 million or $0.51 per diluted share a year ago period.
For the full year, the company reported net income from continuing operations of $317.3 million or $2.52 per diluted share, compared to net income from continuing operations of $284.2 million or $1.93 per diluted share for the same period a year ago. Total revenue was $15,668.8 million compared to $13,832.3 million for the same period a year ago. Operating income was $645.3 million compared to $572.0 million a year ago. Income from continuing operations before income taxes were $516.8 million compared to $461.3 million for the same period a year ago. Net income was $316.4 million or $2.52 per diluted share compared to $281.4 million or $1.91 per diluted share a year ago. Capital expenditures were $183.6 million compared to $158.1 million a year ago. Adjusted net income from continuing operations of $320 million, or $2.54 per share, compared to adjusted net income from continuing operations of $286 million, or $1.94 per share in the prior year, an improvement of 31% on a per-share basis.
AutoNation, Inc., through its subsidiaries, is an automotive retailer in the United States. The Company operates through three segments: Domestic, Import and Premium Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford, and Stellantis. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Its Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Audi, Lexus, Jaguar, Bentley, and Land Rover. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products. It owns and operates approximately 349 new vehicle franchises from 252 stores located in the United States, primarily in metropolitan markets in the Sunbelt region.