Asbury Automotive Also Reports Good 2012 Sales

PR Newswire - February 19, 2013

Like most deal­ers, 2012 proved to be a record-mak­ing year for Asbury Auto­mo­tive Group, both in the fourth-quar­ter and for the full year.

Read more on Asbury’s suc­cess­ful sales record for 2012.

[Asbury Auto­mo­tive] report­ed income from con­tin­u­ing oper­a­tions for the fourth quar­ter 2012 of $22.6 mil­lion, or $0.72 per dilut­ed share, ver­sus adjust­ed income from con­tin­u­ing oper­a­tions in the fourth quar­ter 2011 of $17.5 mil­lion, or $0.55 per dilut­ed share, a 31% increase per dilut­ed share. Net income for the fourth quar­ter 2012 was $22.8 mil­lion, or $0.73 per dilut­ed share, com­pared to $21.5 mil­lion, or $0.68 per dilut­ed share in the pri­or year peri­od….”

“…Our new vehi­cle unit sales sig­nif­i­cant­ly out-per­formed the indus­try, increas­ing 21% due to the strength of our brand port­fo­lio and excel­lent sales exe­cu­tion.  We are also very encour­aged with the trac­tion we are see­ing in our parts and ser­vice growth.” [Michael Kear­ney]

“…We expect the recov­ery of auto­mo­tive sales to con­tin­ue in 2013 due to the increas­ing aver­age age of vehi­cles in the U.S., extreme­ly attrac­tive financ­ing rates, and the avail­abil­i­ty of excit­ing new prod­ucts,” Asbury’s Exec­u­tive Vice Pres­i­dent and Chief Oper­at­ing Offi­cer Michael Kear­ney added.

 

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