On Thursday morning I raced through all the press releases and made the following statement about AutoNation's results:

"But let's face it.  Net income was up 6%, and earnings per share (as they bought back stock) was up 15%.  You won't get too many complaints out me for a quarter like that."

Source: Auto Retail Informer July 26, 2007 

Many of you were quick to point out to me that last year in the second quarter AutoNation had a $34.5 million pre-tax ($21 million after-tax) expense associated with a one-time debt repurchase. 

So if you adjust for the one-time expense, comparable net income was down 16%, while earnings per share from conti ...

To view the entire article:

• Click here to subscribe to everything for $400.00.

• OR click here just to purchase access to this article for $5.00.

Related Companies: AutoNation