Lithia Motors posts lower first-qtr earnings

Newswire

DETROIT, April 26 (Reuters) - Car dealership chain Lithia Motors Inc. posted a 24.5 percent decline in first-quarter earnings on Thursday as gains in vehicle sales were offset by higher costs and increased interest charges. Lithia, the seventh-largest U.S. auto retailer by vehicle sales, posted net income of $7.1 million, or 34 cents per share, compared with $9.4 million, or 52 cents per share, a year earlier. Earnings per share from continuing operations was also 34 cents per share. ...

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