Czar Nicholas II of Russia
Car Czar Consulting says: The company’s inability to divest of a dozen or so dealerships that were targeted for sale and its continued reliance on Chrysler brand stores and sales are a drag on the stock price.
A really great idea: LithiaLife is featured in the video below.
Lithia Motors shares tumble on preliminary results; Lithia Motors expects to break even in 4Q; shares tumble more than 20 percent
Feb. 4, 2010, MEDFORD, Ore. (AP) — Auto retailer Lithia Motors said profits during the fourth quarter may prove to be slim because dealers struggled with a shortage of vehicles related to the Cash for Clunkers program.
The shares plunged 23 percent, or $1.83 to $6 on Thursday, less that three weeks before the company officially releases results.
Lithia Motors Inc. said fourth-quarter profit should be between zero and two cents per share, compared with a loss of 16 cents per share a year earlier.
Lithia said first-quarter earnings excluding charges to write down assets will be between 4 cents and 6 cents per share, and full-year profit will be between 55 cents and 63 cents per share.
The company expects a 3.5 percent rise in sales at stores open at least a year, and total sales of $1.80 billion to $1.85 billion.
The CEO said last year’s production shutdowns at Chrysler and low inventory after Cash for Clunkers shouldn’t affect first-quarter sales, however.
Sales at locations open at least a year, a key measure in retailing, rose about 1.2 percent, Lithia said. Excluding the impact of Chrysler sales, the increase would have been 18.5 percent, the company said.
WSJ, Feb. 4, 2010,Lithia Motors Inc. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at the close. See the full list .
Double-Take Software Inc. topped the list of Biggest Percentage Price Decliners among common stocks on the Nasdaq Stock Market.
