AutoNation earnings fall from year-ago tax benefit


DETROIT, April 29 (Reuters) - Car dealership group AutoNation Inc. on Thursday posted lower earnings from a year earlier when proceeds from a tax settlement drove up its profit. AutoNation said its earnings fell to $87.3 million, or 32 cents per share, from $211.9 million, or 72 cents per share, in the previous first quarter, when it had a non-cash tax benefit of $127.5 million. In February, AutoNation said it expected first quarter earnings in the range of 29 cents to 31 cents per share.

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