DealerTrack Achieves $109 Million Revenue Increase
DealerTrack Holdings Inc. reported that revenue last year came in at $353.3 million, a $109.5 million increase vs. 2010.
LAKE SUCCESS, N.Y. — DealerTrack Holdings Inc. reported that revenue last year came in at $353.3 million, a $109.5 million increase vs. 2010. Revenue for the fourth quarter of 2011 was $91.3 million, up from $62 million recorded during the same period last year.
“Over the course of 2011 we made significant progress in increasing the number of transactions processed by DealerTrack and average transaction revenue per car sold. This progress was further impacted by healthy auto credit and car sales trends throughout the year,” said Mark F. O'Neil, chairman and CEO of DealerTrack. “Our subscription business continues to grow, and we believe we have considerable opportunities to expand our average monthly subscription spend per dealer.”
Revenue for 2012 is expected to be between $365 million and $372 million, representing approximately 13-15 percent growth on a pro forma basis after adjusting 2011 revenue to reflect the dispositions of Chrome and ALG, according to DealerTrack. “In our view, we are entering 2012 in a very strong position to continue to grow revenue at a multiple of auto industry growth, and to improve profitability margins while continuing to invest in long-term growth opportunities," O’Neil said.
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