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Asbury Automotive Reports Record Fourth Quarter

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Asbury Automotive Group Inc. reported a net income for the fourth quarter 2016 of $67.1 million, compared to $41.1 million in the prior year quarter.

Asbury, one of the largest automotive retail and service companies in the U.S., also reported adjusted income from continuing operations (a non-GAAP measure) for the fourth quarter 2016 of $34.0 million, compared to $32.8 million in the prior year quarter—a 19 percent increase in adjusted earnings per share.

Total revenue for the fourth quarter was $1.7 billion, up 2 percent from the prior year period; total revenue on a same-store basis (a non-GAAP measure) was up 5 percent from the prior year period.

For the full year 2016, the company reported net income of $167.2 million, compared to net income of $169.2 million in the prior year period. Adjusted income from continuing operations (a non-GAAP measure) for 2016 was $137.3 million, compared to $147 million in the prior year—a 9 percent increase in adjusted earnings per share.

 

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