OPENLANE, Inc. Q4 Profit Increases, Inline With Estimates

(RTTNews) - OPENLANE, Inc. (KAR) released a profit for its fourth quarter that increased from last year in line with the Street estimates.

The company's earnings came in at $52.3 million, or $0.29 per share. This compares with $14.3 million, or $0.02 per share, last year.

Excluding items, OPENLANE, Inc. reported adjusted earnings of $30.5 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.21 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 12.0% to $455.0 million from $406.1 million last year.

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

-Earnings: $52.3 Mln. vs. $14.3 Mln. last year. -EPS: $0.29 vs. $0.02 last year. -Revenue: $455.0 Mln vs. $406.1 Mln last year.