OPENLANE, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - OPENLANE, Inc. (KAR) revealed a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $14.3 million, or $0.02 per share. This compares with $37.1 million, or $0.18 per share, in last year's fourth quarter.

Excluding items, OPENLANE, Inc. reported adjusted earnings of $23.0 million or $0.16 per share for the period.

Analysts on average had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $391.3 million from $372.8 million last year.

OPENLANE, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $14.3 Mln. vs. $37.1 Mln. last year. -EPS (Q4): $0.02 vs. $0.18 last year. -Analyst Estimates: $0.13 -Revenue (Q4): $391.3 Mln vs. $372.8 Mln last year.