UPDATE 1-Sonic Automotive posts higher 4th-qtr profit

Newswire

(Adds details) DETROIT, Feb 21 (Reuters) - Car dealer Sonic Automotive Inc. on Tuesday said fourth-quarter earnings rose, boosted by improved margins and reduced costs. The Charlotte, North Carolina, company said profit from continuing operations increased to $25.2 million, or 58 cents a share, from $19.3 million, or 45 cents a share, a year earlier. Wall Street analysts had expected the company to earn 51 cents a share, according to Reuters Estimates. "Our strong brand mix yielded a ...

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