UPDATE: Kar Auction Services (KAR) Misses Q4 EPS by 3c, FY17 Guidance Falls Short

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Go back to UPDATE: Kar Auction Services (KAR) Misses Q4 EPS by 3c, FY17 Guidance Falls Short

KAR Auction Services, Inc. Reports 2016 Financial Results and the Fourth Quarter Repurchase of 1.9 Million Shares

February 21, 2017 4:40 PM EST

CARMEL, Ind., Feb. 21, 2017 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE: KAR), today reported its fourth quarter financial results for the period ended December 31, 2016. For the fourth quarter of 2016, the company reported revenue of $813.7 million as compared with revenue of $695.7 million for the fourth quarter of 2015, an increase of 17%. Net income for the fourth quarter of 2016 decreased 6% to $45.5 million, or $0.33 per diluted share, as compared with net income of $48.3 million, or $0.35 per diluted share, in the fourth quarter of 2015. Adjusted EBITDA for the quarter ended December 31, 2016 increased 14% to $176.5 million, as compared with Adjusted EBITDA... More