KAR Holdings, Inc. Reports Third Quarter 2008 Results


PHOTO

CARMEL, Ind. November 13, 2008: AR Holdings, Inc. today reported its third quarter financial results for the three months ended September 30, 2008. For the third quarter of 2008, the company reported revenue of $444.6 million as compared with third quarter 2007 revenue of $394.3 million, an increase of 12.8%. Adjusted EBITDA, excluding pro forma adjustments for recent acquisitions and cost savings as defined in the companys senior credit facility dated April 20, 2007, increased 4.2% to $101.8 million in the third quarter of 2008, as compared with third quarter 2007 adjusted EBITDA of $97.7 million.

For the nine months ended September 30, 2008, the company reported that revenue rose 15.5% to $1,375.2 million as compared with revenue of $1,190.5 million for the combined companies of KAR Holdings, Inc. (KAR), ADESA, Inc. (ADESA) and Insurance Auto Auctions, Inc. (IAAI), for the comparable 2007 period. Adjusted EBITDA, excluding pro forma adjustments for recent acquisitions and cost savings, for the nine months ended September 30, 2008, rose 9.1% to $335.7 million as compared with adjusted EBITDA of $307.8 million for KAR, ADESA and IAAI combined for the comparable 2007 period.

Earnings Conference Call Information

KAR Holdings, Inc. will also be hosting an earnings conference call on Friday, November 14th at 11:00 a.m. EST (10:00 a.m. CST). The call will be hosted by KAR Holdings, Inc.s Chairman and Chief Executive Officer Brian Clingen and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-877-795-3648 and entering participant passcode 1241757.

A replay of the call will also be available for two weeks via telephone starting approximately 30 minutes after the completion of the call. The replay may be accessed by calling 1-888-203-1112 and entering conference code 1241757.

Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | New Car and Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/