UPDATE 1-Lithia 2nd-qtr earnings rise, dividend started

Newswire

(Adds company's earnings forecast, initiation of quarterly dividend.) DETROIT, July 23 (Reuters) - Auto dealer Lithia Motors Inc. said on Wednesday second-quarter earnings rose on strong same-store sales of new vehicles and improved margins. The company said it earned $8.5 million, or 46 cents a share, compared with $7.9 million, or 43 cents a share, in the same period a year ago. Revenues rose 14 percent to $667.5 million from $584.3 million. Lithia, based in Medford, Oregon, ...

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