LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2012
Annual revenue growth of 26% to a record $4.1 billion
2012 diluted EPS increases 22.5%
Organic revenue growth for parts and services of 6.0%
Completed 30 acquisitions in 2012
Provides 2013 guidance
Chicago, IL (February 28, 2013) - LKQ Corporation (Nasdaq:LKQ) today announced results for its fourth quarter and full year ended December 31, 2012. Net income for the fourth quarter was $62.2 million and diluted earnings per share was $0.21, a 10.5% increase over the $0.19 reported for the fourth quarter in 2011. For the full year 2012, net income was $261.2 million and diluted earnings per share was $0.87, a 22.5% increase over the $0.71 reported for 2011. The Company noted that both full year 2012 and 2011 diluted earnings per share included a loss equal to $0.01 per share resulting from restructuring and acquisition related expenses and the change in fair value of contingent consideration liabilities. Additionally, full year 2012 diluted earnings per share included a $0.04 per share gain from the settlement of a previously disclosed lawsuit, and the 2011 results included a charge of $0.01 per share as a result of a loss on debt extinguishment.
"I am pleased with our 2012 results. Our Company was able to deliver solid growth across many financial performance metrics despite the multiple challenges we faced throughout the year. In 2012, the Company surpassed $4 billion in revenue for the first time and achieved 22.5% diluted EPS growth,” stated Robert Wagman, President and Chief Executive Officer of LKQ Corporation.
Mr. Wagman added, “In 2012, we completed a record 30 acquisitions in North America. This milestone is a testament to our strength in identifying and integrating businesses that allow us to expand our geographic footprint and broaden our product offerings to continue our growth.”
Fourth Quarter 2012 Reported Results
For the fourth quarter of 2012, revenue was $1.07 billion compared with $939.6 million for the fourth quarter of 2011, an increase of 13.7%. Net income for the fourth quarter was $62.2 million compared with $56.1 million in the prior year, an increase of 10.8%. For the fourth quarter, total organic revenue growth was 7.4%, and parts and services revenue grew organically by 8.2%. Acquisition revenue growth for the fourth quarter was 5.9%.
The following information was filed by Lkq Corp (LKQ) on Thursday, February 28, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: LKQ CIK: 1065696 Form Type: 10-K Annual Report Accession Number: 0001065696-13-000014 Submitted to the SEC: Fri Mar 01 2013 3:52:13 PM EST Accepted by the SEC: Fri Mar 01 2013 Period: Monday, December 31, 2012 Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies