Sonic Automotive quarterly earnings fall

Newswire

DETROIT, April 29 (Reuters) - Car dealer Sonic Automotive Inc posted a decline in quarterly earnings on Tuesday due to slumping sales of new vehicles, and left intact a previously lowered full-year earnings forecast. Net income fell to $14.2 million, or 35 cents per share, in the first quarter, from $20 million, or 44 cents per share, a year earlier. Revenue rose 1 percent to $1.9 billion. Sonic Automotive reported earnings per share from continuing operations of 44 cents. On that basis, ...

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