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SEARCHThe dealership group reveals a ten percent rise in sales, as well as increased earnings.
CHICAGO – Reuters reported Lithia Motors Inc. recorded increased fourth-quarter earnings thanks to new-car sales.
The dealership group saw earnings rise from $7.3 million, or 40 cents a share, in 2002's fourth quarter, to $10 million, or 53 cents a share, in 2003's fourth quarter.
Continuing operations brought in $9.9 million, up from $7.5 in 2002, and sales went up 10% to $612.2 million.
Lithia predicted that this year's first quarter should show earnings of 29 to 31 cents a share.
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