Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCarmel-based KAR Auction Services Inc. on Wednesday reported higher revenue and profit in the second quarter.
The company had revenue of $470 million in the quarter ended June 30, a 7-percent increase over the $439.1 million it reported
in the same quarter of 2009.
Profit for the second quarter was $28.6 million, or 21 cents per share, compared with profit of $12.8 million, or $12 cents
per share, in 2009.
KAR is the holding company for Adesa Inc., a leading provider of wholesale used vehicle auctions; Insurance Auto Auctions
Inc., a national salvage auto auction company; and Automotive Finance Corp. , a provider of financing to used vehicle dealers.
All three units reported higher revenue and profit in the second quarter over the same period of 2009.
Second quarter revenue rose from $139 million last year to $157.3 million this year at Insurance Auto Auctions Inc. and from
$20.6 million to $32.6 million at Automotive Finance.
Please enable JavaScript to view this content.