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3 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Home News Latest Stories 10 things to know for Friday Emergency services Living with wildlife 10 things to know for Thursday Armed protesters gather at Medford BLM office over Sugar Pine Mine dispute Crime, Courts and Emergency Services Emergency services Medford robbery suspect arrested after pursuit in Bend Dispose of documents and prescription drugs safely on Saturday Emergency services Teenager struck, killed by pickup Politics and Elections Arthur I. Cyr: Cuba’s enduring challenge to American foreign policy – and American politics Gov. Brown touts need for transportation funding in talk to Medford chamber Kent Bush: Clinton 2.0 is neither new nor improved Arthur I. 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Dameron Marie Melvina Besette-Hull James Emmett Boozer Weather Photo Galleries Since You Asked Videos Web Cams Mail Tribune 100 Shareable Sports Latest Stories Fredenburg grand slam powers Chieftains Warriors storm back, top Pels SOU's Neal fifth, Reitman seventh in CC multis Giants sweep Dodgers on Maxwell hit Weekley, de Jonge share lead in Zurich Classic Varsity 541 College Sports SOU's Neal fifth, Reitman seventh in CC multis Aspiring Duck quarterback bucks the odds Marshall stays with Ducks to get better Eckert, Beavers take series from Arizona Randall drives SOU into postseason Pro Sports Warriors storm back, top Pels Giants sweep Dodgers on Maxwell hit Weekley, de Jonge share lead in Zurich Classic Griner, fiancee Johnson arrested after fight Title Quest Community Sports Bailey picks up modified win Wilson delivers in return of local boxing Palmer breezes to second straight men’s title Business Latest Stories Business briefs Ride & Drive: 2015 Nissan Frontier New home in an old house Lithia Motors nets $40.7 million in first quarter Lithia Motors reports second-best quarter ever Real Estate News New home in an old house Naumes plans custom-crush winery in former packing house GREEN ACRES: Southern Oregon provides escape from the maddening crowd Since You Asked: Metro Medford rebranding proved economical Jackson County median home price hits $215,000 in first quarter People In Business Transportation Lithia Motors nets $40.7 million in first quarter Lithia Motors reports second-best quarter ever Business briefs Medford airport's record run continues Gov. Brown touts need for transportation funding in talk to Medford chamber Agriculture Naumes plans custom-crush winery in former packing house New bosses take charge at Harry & David Dancin Vineyards covers up Opinion Latest Matthew T. Mangino: Faulty hair analysis has far-reaching implications Granlund cartoon: Paging Dr. Oz Our View: Buildings belong with the Jackson County Library District Letters to the Editor, April 24 Michael Gerson: 'The Road to Character' starts with humility Editorials Our View: Buildings belong with the Jackson County Library District Our View: Public's right to film police should be protected Our View: Raises for Jackson County officials — again Other Views: Delay edible marijuana products for safety Our View: The rule of law vs. armed confrontation Letters to the Editor Letters to the Editor, April 24 Letters to the Editor, April 23 Letters to the Editor, April 22 Letters to the Editor, April 21 Letters to the Editor, April 20 Columns Michael Gerson: 'The Road to Character' starts with humility Dana Milbank: The right's new claim: same-sex marriage is deadly Kathleen Parker: Mr. Hughes goes to Washington Esther Cepeda: What happens in Latin America should be reported Kathleen Parker: Presidential election 2016: The woman trap Guest Opinions Guest Opinion: This Earth Day, we celebrate the Northwest Forest Plan The Medford School Board was wrong: 'American Pageant' is a political agenda, not history The Medford School Board was right: 'American Pageant' is a fine book, and the board did its homework Guest Opinion: Removing barriers to walking, biking benefits everyone Guest Opinion: Conversion therapy on LGBT youth is child abuse Lifestyle Latest stories Looking Up: Enjoying the bright Moon Ride & Drive: 2015 Nissan Frontier Best apps for dog lovers Health Watch: Tips for protecting your eyes Religion Briefs: Friday, April 24 Food Community blog: Oregon Breweries to grow or seriously to grow? The joy of true wasabi Season Stepp: Veggie treat hidden deep inside artichokes Tammy Kelly: The South’s favorite side dish — slaw Community blog: Steep, don't smother, chilaquiles in red chili sauce Home and Garden Garden Cameos: Spring is time for azaleas in the garden Dear Monty: Seven costly mistakes of new real estate investors Paul Rogers: Enjoy convenience of container gardening Home Help: 3 quick, easy kitchen and bath upgrades Carol Link: Tea olive shrubs can be propagated from new growth Health Health Watch: Tips for protecting your eyes Dr. Jeff Hersh: Could severe cramping mean endometriosis? Dr. Murray Feingold: Is pre-op testing for cataract surgery necessary? Community blog: What about Lucy? Brent St. Germain: One year and counting Hiking Biking Faith Religion Briefs: Friday, April 24 Religion Briefs: Friday, April 17 Religion briefs: Friday, April 10 Religion briefs: Friday, April 3 Religion briefs: Friday, March 27 Milestones and Achievements Witham's birthday bash draws hundreds for 1950s prices Charlesworth-Murphy Drizzle doesn't dampen Pear Blossom Parade spirit New Arrivals: Sunday, April 12 Columnist for a Day Rogue Healthy Aging Tempo Latest stories Rogue Valley Earth Day 2015 Alba's Edge at Headwaters in Ashland Regional brewers, distillers, winemakers at Harry & David Field A Taste of Ashland pairs food and wine at galleries Britt adds Watkins Family Hour concert with Sean and Sara Watkins of Nickel Creek, Fiona Apple and others Theater 'Secret Love' playwright Stan Lai appears in Ashland REVIEW: 'Secret Love' strikes comical, poignant balance Ashland New Plays Festival chooses new artistic director A tale of two plays at OSF Oregon Cabaret Theatre's "The Musical!" delivers five clever Broadway parodies in Ashland Music The Farr Side: Slow disappearance of physical music Alba's Edge at Headwaters in Ashland Britt adds Watkins Family Hour concert with Sean and Sara Watkins of Nickel Creek, Fiona Apple and others Alex de Grassi and Andrew York play SOU Live Music in Local Clubs Community Events Rogue Valley Earth Day 2015 Foreign language film festival set at SOU Regional brewers, distillers, winemakers at Harry & David Field A Taste of Ashland pairs food and wine at galleries Third Fridays celebrates poetry, student art Movies Movie review: ‘Ex Machina’ is the droid you’re looking for Movie review: Fairly smooth sailing for ‘The Water Diviner’ Movie review: ‘Age of Adaline’ is sweet but a little sloppy Movie review: Powerful, tense kidnapping story ‘24 Days’ delivers a strong message Movie review: Crowe’s historical drama ‘The Water Diviner’ isn’t divine, but it’s pretty darn good Dining Island Grindz serves up Hawaiian specialties Have you wandered down the Bear Creek Wine Trail yet? Restaurant inspections: April 19, 2015 Siam Cafe offers 'mild' to 'very spicy' Thai cuisine Restaurant inspections, April 12, 2015 Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obits Blogs TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Special Sections Business Services NEWS NOW Our View: Buildings belong with the Jackson County Library District ... Saving money, making money with trout ... Armed protesters gather at Medford BLM office over Sugar Pine Mine dispute ... Our View: Buildings belong with the Jackson County Library District ... Saving money, making money with trout ... Armed protesters gather at Medford BLM office over Sugar Pine Mine dispute ... AUTO INDUSTRY Lithia Motors nets $40.7 million in first quarter Medford auto retailer sizing up acquisition targets By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Apr. 22, 2015 @ 4:45 pm Updated Apr 22, 2015 at 5:44 PM By Greg Stiles Mail Tribune Posted Apr. 22, 2015 @ 4:45 pm Updated Apr 22, 2015 at 5:44 PM » Social News p bs:newslist StartDate="20121121" EndDate="p bs:datecalc Months="3"" DateSort="1" UseObjects="1" ObjectClass="81" Taxonomywords="2325,665" ExactTaxonomyMatch="1" Image="1" Count="4" --> With revenue, profit, stock and dividends hitting all-time highs, Lithia Motors is raring for more. The Medford auto retailer Wednesday announced its best first quarter, and second-best reporting period, ever. Lithia reported a 66 percent increase in revenue, to $1.8 billion from $1.1 billion, during the first quarter of 2014. It was the second-best overall quarter performance in company history. The Medford-based auto retailer's net earnings soared 64 percent to $40.7 million in the first quarter from $24.7 million a year ago. It came in just shy of the $41.1 million profit reported in the fourth quarter of 2014. While no deals were announced during the first three months of the year, a combination of graying owners seeking to unload their dealerships and underperforming stores needing the Midas touch suggests Lithia could expand in the near future. "We are actively evaluating acquisition candidates and note that with the DCH combination, we now have identified over 2,600 potential target stores," CEO and President Bryan DeBoer told analysts during a Wednesday conference call. "We remain confident in our ability to find ... purchases to increase our portfolio and grow earnings." While it would be hard to top last year's $362.5 million acquisition of DCH Auto Group, DeBoer suggested the company is poised for when the time is ripe. "Obviously, there are only about nine other ones that are larger than DCH in the country, so those may be a little hard to come by," DeBoer said. "But ones that are about half that size or maybe a quarter of that size are out there. We really believe that those are definitely on the radar." The range of dealerships with $50 million to $70 million in annual sales grew with the DCH acquisition, he said. "There is a pretty active market in that arena, both in our exclusive markets and now in the metropolitan market," DeBoer said. "Our availability of candidates grew from about 1,200 to about 2,600 when we went into those metropolitan markets." While hundreds of dealers are willing to consider offers, prices have climbed with muscle-car acceleration. John Shackelford, a Dallas lawyer who represents auto dealers in transactions, said the industry rebound provided the opportunity for dealers to recoup past losses. While widespread acquisitions have driven up store values, present interest rates provide buyers with cheap capital.  "We've seen a flurry of activity because car sales have been extremely strong," Shackelford said. "As a result, it's got a lot of established dealerships with mature owners thinking about retiring." Dealers who missed out when larger companies were snapping up dealerships a decade ago are ready to jump this time. "The asset that had provided their living lost its value during the auto industry slump," he said. "Now that the economy has turned around, a lot of people are thinking they will never see days like this again and it's time to sell. They don't want to be standing on the sidelines." Shackelford said dealerships typically sold for three times their annual sales 20 years ago. "Now we're seeing multiples of five times in rural markets with much smaller sales, and nine times in metro areas," he said. "Historically speaking, bargains are hard to find." Increasingly, however, auto groups and other deep-pocketed buyers, such as Warren Buffet's Berkshire Hathaway, look beyond the higher prices because the sale can be financed with cheap money. "You know inflation will eventually come back and interest rates will go up," Shackelford said. "You're better off buying now and betting the asset will appreciate." For the fourth straight quarter, Lithia Motors registered double-digit growth in all its business lines, DeBoer said, noting the company averaged 57 used car sales per month during the quarter, up from 55 the same period a year ago and 50 two years ago. The company announced a 20-cent-per-share dividend, and shares gained 4 cents to close at $102.54. Reach reporter Greg Stiles at 541-776-4463 or [email protected]. By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Apr. 22, 2015 @ 4:45 pm Updated Apr 22, 2015 at 5:44 PM » Comment or view comments /* $( document ).ready(function() { // Jquery mobile is trying to style the button and leaving a blank gry button on top of a white button $("#viafouracoms .vf-comment-controls li.vf-right").html(' Submit '); });*/ » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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