STAMFORD, Conn., July 25 (Reuters) - Auto retailer Asbury Automotive Group Inc. on Thursday said it posted a quarterly profit on solid sales of both new and used vehicles in its second quarter as a public company.
The company, which went public in March, said income from continuing operations in the second quarter was $13.8 million, or 40 cents per share, in the quarter. Total revenue was $1.2 billion, up 8.9 percent from a year ago.
Analysts had expected a profit of 38 cents a share on average, according to Thomson First Call.
Asbury said it earned $11.1 million from continuing operations in the same period a year ago. The company said its quarterly net income totals for 2002 are not comparable with those from 2001 due to the tax impact of Asbury's conversion from a partnership to a publicly traded company.
The company forecast it would earn $1.57 to $1.59 a share for the full-year 2002. Analysts were looking for $1.56 a share, according to First Call.