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Lkq Corp (LKQ) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Lkq Corp

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CIK: 1065696 Ticker: LKQ

Exhibit 99.1

 

LOGO

LKQ CORPORATION ACHIEVES RECORD RESULTS FOR 2011

 

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Revenue growth of 32% to $3.3 billion

 

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Fourth quarter 2011 diluted EPS increases 36%

 

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2011 diluted EPS increases 23%

 

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Provides 2012 guidance

Chicago, IL (February 23, 2012) - LKQ Corporation (Nasdaq:LKQX) today announced results for its fourth quarter and full year ended December 31, 2011. Income from continuing operations for the fourth quarter was $56.1 million and diluted earnings per share was $0.38, a 36% increase over the $0.28 reported for 2010. For the full year 2011, income from continuing operations was $210.3 million and diluted earnings per share was $1.42, a 23% increase over the $1.15 reported for 2010.

“We completed a successful 2011 with a solid fourth quarter,” stated Robert Wagman, President and Chief Executive Officer of LKQ Corporation. “In 2011, the Company surpassed $3 billion in revenue for the first time, and achieved double digit total organic revenue growth and diluted EPS growth despite the headwinds of high fuel costs, the high cost of salvage vehicles and the reduction in miles driven that we faced throughout the year.”

Mr. Wagman added, “We made 21 acquisitions in 2011 including the purchase of Euro Car Parts. The financial performance of these businesses and their integration into our existing operations is progressing as expected.”

Fourth Quarter 2011 Reported Results

For the fourth quarter of 2011, revenue was $939.6 million compared with $674.1 million for the fourth quarter of 2010, an increase of 39.4%. Income from continuing operations for the fourth quarter was $56.1 million compared with $41.3 million in the prior year, an increase of 35.9%. For the fourth quarter, organic revenue growth was 6.4%, and parts and services revenue grew organically by 5.6%. Acquisition revenue growth for the fourth quarter was 33.1%.

Full Year 2011 Reported Results

For the full year of 2011, revenue was $3.27 billion compared with $2.47 billion in 2010, an increase of 32.4%. Income from continuing operations for the full year was $210.3 million compared with $167.1 million for the prior year, an increase of 25.8%. For the full year of 2011, organic revenue growth was 10.7%, and parts and services revenue grew organically by 7.9%. Acquisition revenue growth for 2011 was 21.5%.

The following information was filed by Lkq Corp (LKQ) on Thursday, February 23, 2012 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity And Other Comprehensive Income
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (schedule Of Accumulated Other Comprehensive Income (loss)) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Business
Business (details)
Business Combinations
Business Combinations (effect Of Businesses Acquired) (details)
Business Combinations (narrative) (details)
Business Combinations (purchase Price Allocations For Acquisitions) (details)
Business Combinations (tables)
Commitments And Contingencies
Commitments And Contingencies (future Minimum Lease Commitments) (details)
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (activity Of Interest Rate Swap Agreements) (details)
Derivative Instruments And Hedging Activities (narrative) (details)
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities (terms Of Interest Rate Swap Agreements) (details)
Discontinued Operations
Discontinued Operations (narrative) (details)
Discontinued Operations (results Of Operations For Discontinued Operations) (details)
Discontinued Operations (tables)
Earnings Per Share
Earnings Per Share (computation Of Earnings Per Share) (details)
Earnings Per Share (number Of Employee Stock-based Compensation Awards Outstanding) (details)
Earnings Per Share (tables)
Equity Incentive Plans
Equity Incentive Plans (narrative) (details)
Equity Incentive Plans (pretax Stock-based Compensation Expense) (details)
Equity Incentive Plans (stock-based Compensation Expense Expected To Be Recognized) (details)
Equity Incentive Plans (stock-based Compensation Expense Included In Statements Of Income) (details)
Equity Incentive Plans (summary Of Expected To Vest Options, Restricted Shares, And Rsus) (details)
Equity Incentive Plans (summary Of Outstanding And Exercisable Stock Options) (details)
Equity Incentive Plans (summary Of Stock-based Compensation Plans) (details)
Equity Incentive Plans (summary Of Weighted Average Assumptions Used To Compute Fair Value Of Stock Option Grants) (details)
Equity Incentive Plans (tables)
Fair Value Measurements
Fair Value Measurements (changes In The Fair Value Of Level 3 Contingent Consideration Obligations) (details)
Fair Value Measurements (fair Value, Assets And Liabilities Measured On A Recurring Basis) (details)
Fair Value Measurements (tables)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (schedule Of Deferred Tax Assets And Liabilities Reflected In Consolidated Balance Sheets) (details)
Income Taxes (summary Of Deferred Tax Assets And Liabilities) (details)
Income Taxes (summary Of Effective Tax Rate) (details)
Income Taxes (summary Of Income Taxes From Continuing Operations Before Provision For Income Taxes) (details)
Income Taxes (summary Of Provision For Income Taxes) (details)
Income Taxes (summary Of Reconciliation Of Gross Unrecognized Tax Benefits) (details)
Income Taxes (tables)
Long Term Incentive Plan
Long Term Incentive Plan (details)
Long-term Obligations
Long-term Obligations (2007 Credit Agreement) (narrative) (details)
Long-term Obligations (2011 Credit Agreement) (narrative) (details)
Long-term Obligations (promissory Notes) (narrative) (details)
Long-term Obligations (schedule Of Long-term Obligations) (details)
Long-term Obligations (schedule Of Maturities Of Long-term Obligations) (details)
Long-term Obligations (tables)
Restructuring And Acquisition Related Expenses
Restructuring And Acquisition Related Expenses (details)
Retirement Plans
Retirement Plans (details)
Schedule Ii-valuation And Qualifying Accounts And Reserves
Schedule Ii-valuation And Qualifying Accounts And Reserves (details)
Segment And Geographic Information
Segment And Geographic Information (schedule Of Assets By Reportable Segment) (details)
Segment And Geographic Information (schedule Of Financial Performance By Reportable Segments) (details)
Segment And Geographic Information (schedule Of Reconciliation Of Ebitda To Income From Continuing Operations) (details)
Segment And Geographic Information (schedule Of Revenue By Geographic Area) (details)
Segment And Geographic Information (schedule Of Revenue By Product Category) (details)
Segment And Geographic Information (schedule Of Tangible Long-lived Assets By Geographic Area) (details)
Segment And Geographic Information (segment Reporting Capital Expenditure) (details)
Segment And Geographic Information (tables)
Selected Quarterly Data
Selected Quarterly Data (summary Of Selected Quarterly Financial Data) (details)
Selected Quarterly Data (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (changes In Carrying Amount Of Goodwill) (details)
Summary Of Significant Accounting Policies (changes In Warranty Reserve) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policy)
Summary Of Significant Accounting Policies (schedule Of Estimated Useful Lives) (details)
Summary Of Significant Accounting Policies (schedule Of Inventory) (details)
Summary Of Significant Accounting Policies (schedule Of Other Intangibles) (details)
Summary Of Significant Accounting Policies (schedule Of Property And Equipment) (details)
Summary Of Significant Accounting Policies (tables)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-081978
Submitted to the SEC: Mon Feb 27 2012 5:15:56 PM EST
Accepted by the SEC: Mon Feb 27 2012
Period: Saturday, December 31, 2011
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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