UPDATE: Kar Auction Services (KAR) Misses Q4 EPS by 3c, FY17 Guidance Falls Short
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KAR Auction Services, Inc. Reports 2016 Financial Results and the Fourth Quarter Repurchase of 1.9 Million Shares
February 21, 2017 4:40 PM ESTCARMEL, 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
