Vehicle salvage disposition services provider
said its third quarter ended April 30 earnings rose 12% from the year-ago period.
The Fairfield, Calif.-based company earned $34.7 million, or 37 cents a share, in the quarter, compared with $30.9 million, or 33 cents a share, a year ago. Earnings from continuing operation was $33.2 million, or 36 cents a share, up 8.1% from a year-ago period. Analysts polled by Thomson First Call were expecting earnings of $35.4 million, or 38 cents a share in the most recent quarter.
Third-quarter revenue rose 17% from a year ago to $149.5 million. Analysts were expecting revenue of $155.8 million.
Operating profit for the quarter rose 12.4% from a year ago to $53.4 million, while operating margin declined 145 basis points to 35.7%.
Third quarter salvage same-store sales, or stores open more than a year, rose 12%.
Shares fell $1.91 to $25.53 Thursday.
This story was created through a joint venture between TheStreet.com and IRIS.