KAR Auction Services Q1 Profit Down - Quick Facts

(RTTNews) - KAR Auction Services, Inc. (KAR) Monday reported first-quarter profit of $20.7 million or $0.15 per share, down from $29.1 million or $0.21 per share in the same period last year.

Adjusted earnings for the quarter were $0.41 per share. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $583.8 million from $557.6 million last year. Analysts expected revenues of $581.95 million.

Looking ahead to the fiscal 2014, the company currently projects earnings in the range of $0.95 to $1.05 per share, with adjusted earnings ranging between $1.35 and $1.45 per share. Analysts currently expect full-year earnings of $1.40 per share.