DealerTrack 4Q profit jumps |
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Wed, 28 Feb 2007 23:04
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LAKE SUCCESS, N.Y. (AP) - Auto retail software company DealerTrack Holdings Inc. said Wednesday its fourth-quarter profit ballooned as sales grew.The company earned $5.7 million, or 14 cents per share applicable to common stockholders, up from $682,000, or 2 cents per share, during the same period a year earlier. Net income for the recent quarter includes $1.4 million from the purchase price adjustment of an acquisition.Cash net income, an adjusted earnings figure, totaled $9.3 million, or 23 cents per share, up from $3.7 million, or 12 cents per share, in the prior-year period.Sales jumped 37 percent to $45.7 million from $33.4 million.Analysts, on average, were looking for earnings of 19 cents per share on sales of $43.2 million, according to a poll by Thomson Financial.DealerTrack provides Web-based software linking auto dealerships with banks, credit reporting agencies and other financial businesses involved in car retail.For the full year, the company earned $19.3 million, or 51 cents per share available to common shareholders, up from $4.5 million, or 12 cents per share, in 2005.Cash net income totaled $32.7 million, or 87 cents per share, versus $16.8 million, or 47 cents per share, in 2005.Revenue rose 44 percent to $173.3 million from $120.2 million.There were 22,147 active dealers in the DealerTrack's network as of the end of 2006, up 5 percent from a year earlier.Shares closed up 19 cents at $28.95 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DealerTrack buys Canada's Curomax 