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Article: Sonic Automotive, Inc. Announces Record Third Quarter Net Income of $0.73 Per Share.
- Article from:
- PR Newswire
- Article date:
- October 29, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sonic Automotive, Inc. today announced record results for the third quarter of 2002.
Operating Results Highlights
Highlights from third quarter 2002 compared to third quarter 2001:
* Total revenue increased 37%.
* Total gross profit up 32%.
* Net income up 43% for the quarter, up 24% adjusting prior year for
revised accounting for goodwill.
* EPS up 38% for the quarter, up 20% adjusting prior year for revised
accounting for goodwill.
Net income for the quarter ended September 30, 2002 was $31.6 million, or $0.73 per diluted share, compared to prior year results of $22.1 million, or $0.53 per diluted share. Net income ...