Document text
0 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 Emergency services Dog show highlighted by $10,000 donation toward sheriff's K-9 Land in limbo Since You Asked: Cut to the chase on sidewalk cuts Emergency services Crime, Courts and Emergency Services Emergency services Emergency services VIDEO: Wrap Up: Oct. 31, 2014 Elder abuse consistent in stats, but underreported, officials say First GP police fatal shooting justified, DA says Politics and Elections Election equipment fails, delaying ballot counting Unrest from the ranks? Blue corn seeds stir debate Ads attack Dotterrer and Bates Local gas prices lowest in years Education Marketta Gregory: Stretch yourself for God Medford Schools Foundation supports programs the district can't Fire marshal visit prompts cancellation of Sacred Heart haunted house Kids Unlimited Academy awarded $450,000 grant County helps fund RCC job training Environment Local gas prices lowest in years Where do all those leaves go? Ashland council calls for divestment from fossil fuel Reintroduction of McCloud River salmon inspires film, tribe Rite Aid bear cub may be released into the wild in spring State News Kitzhaber embattled as he seeks fourth term Nation - World Obituaries Beulah (Butch) Johnson Robert D. Baehr Death Notices Erma Lu Cauthon Jean Camille Rector Weather Photo Galleries Since You Asked Videos Web Cams Mail Tribune 100 Sports Latest Stories Takeaways spur SOU to victory over Bears Forest Grove stuns South Medford in sudden death State cross country results Perry, Pernice move into Schwab lead Turnover helps Sheldon pull off victory over North Medford Varsity 541 College Sports Takeaways spur SOU to victory over Bears Embattled Michigan athletic director steps down SOU spoils Yotes' bid for ninth straight title Cal visits Oregon State with both teams struggling Oregon looks to break Stanford’s streak Pro Sports Perry, Pernice move into Schwab lead Gay leads Kings past Trail Blazers Cubs hire Maddon as manager, fire Renteria Hurley repeats 67, leads by two in CIMB Knicks spoil James’ homecoming Community Sports Results / Standings LOCAL EVENTS LOCAL RESULTS Business Latest Stories This Bud is for old friends Lithia reports $34.5 million third-quarter profit Blog: Trick or Treat! UO report shows Rogue Valley economy on the rise Will TV makeover do the trick for Mystic Treats? Real Estate News New I-5 interchange puts south Medford on fast lane to fast food Lithia buys Clovis dealership Rental vacancies increase Jackson County real estate sales, prices continue rebound Pallet Wine Co. expands in downtown Medford People In Business People in Business Transportation Lithia reports $34.5 million third-quarter profit Frontier Airlines to end Eugene-Denver service Business Resource Fair has answers Erickson's Navy contract extended Lithia buys Clovis dealership Agriculture Revenue rises for Harry & David's parent company Where do all those leaves go? Hundreds look for work at Harry & David hiring fair Umpqua Holdings more than doubles net earnings Harry & David will hold hiring fair Thursday Opinion Latest Letters to the Editor, Nov. 1 Granlund cartoon: Election winners Frank Talk: Power to the people Philip Maddocks: Unapologetic Christie frees God from Ebola quarantine Michelle Teheux: My opponent is worse than I am Editorials Our View: Dark money leaves candidates in dark Our View: Cheers and jeers Our View: Any new gas tax must be equitable Southeast center offers new approach to growth Our View: Cost is a poor excuse for local pot tax Letters to the Editor Letters to the Editor, Nov. 1 Letters to the Editor, Oct. 30 Letters to the Editor, Oct. 29 Letters to the Editor, Oct. 28 Letters to the Editor, Oct. 27 Guest Opinions Measure 89 provides equality for women Eagle Point needs public transportation Guest Opinion: Common Core testing sets math students up for failure Guest Opinion: Campaigning and voting 'the Oregon way' Guest Opinion: A glimpse into the reality of our elections Lifestyle Latest stories Ashland parade showcases costumed creativity Woman hospitalized in Milwaukie for Ebola testing Fishing Report: Friday, Oct. 31 Lloyd Garver: Let the dogs out Frank Talk: Power to the people Food Spices of Autumn Community blog: Seven spooky snacks are savory Halloween fare Can’t get enough pumpkin-pie spice? Living and cooking in pear-a-dise Kitchen Call: A cookbook by its cover Home and Garden 17 things you never knew about turkeys Dear Monty: 10 tips toward a quality offer on a home How to live and work in a tiny home Dear Monty: Rent-back clause prevents financial disaster​ Recycle plastic at The Expo Friday and Saturday Health Woman hospitalized in Milwaukie for Ebola testing Health Watch: Making smart fitness goals Dr. Murray Feingold: Can shingles be prevented? Dr. Jeff Hersh: What causes a canker sore? Community blog: Finding My Roots Hiking Biking Faith Religion news: Mormon church acknowledges founder’s teen bride Marketta Gregory: Stretch yourself for God Religion Briefs Religion Briefs Religion Briefs Milestones and Achievements Dog show highlighted by $10,000 donation toward sheriff's K-9 Since You Asked: Gull species found inland Ashlanders root for Guthrie in Game 7 Guide promotes better food system Where do all those leaves go? Columnist for a Day Rogue Healthy Aging Tempo Latest stories Rain damage closes Darkwing Manor 'Glee' star to perform Medford concert Singer and songwriter Gene Burnett follows his bliss Spookadelic Halloween Funktacular promises a lively dance party Patty Griffin plays the Historic Ashland Armory Theater Review: Funny 'Lion in Winter' roars to life at Camelot Theatre Camelot presents 'The Lion in Winter' 'Carnage' is short, smart, darkly funny Music 'Glee' star to perform Medford concert The Farr Side: On ‘1989,’ Taylor Swift lightens up Singer and songwriter Gene Burnett follows his bliss Patty Griffin plays the Historic Ashland Armory Live Music in Local Clubs Community Events Spookadelic Halloween Funktacular promises a lively dance party Puss 'N' Boots Costume Ball and Auction Theater's haunted house not for faint of heart Third Fridays in downtown Medford Works in progress Dining Blue Toba is a cultural experience Back Porch Bar & Grill Yu's Yummy Yan's offers great take-out Agave offers tasty tacos Asian cuisine for all seasons at Misoya Bistro Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obituaries Blogs TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Magazines & Special Sections NEWS NOW Rain damage closes Darkwing Manor ... Woman hospitalized in Milwaukie for Ebola testing ... Donor helps Mt. Ashland buy new ski boots ... Rain damage closes Darkwing Manor ... Woman hospitalized in Milwaukie for Ebola testing ... Donor helps Mt. Ashland buy new ski boots ... AUTOMOTIVE Lithia reports $34.5 million third-quarter profit Poor used-car sales hindered Medford auto retailer in eyes of investors By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 30, 2014 @ 9:00 am Updated Oct 30, 2014 at 4:38 PM By Greg Stiles Mail Tribune Posted Oct. 30, 2014 @ 9:00 am Updated Oct 30, 2014 at 4:38 PM » Social News Lithia Motors might have fallen a few hairs short of expectations in the third quarter, but the bottom line was nonetheless prolific. The Medford-based auto retailer Thursday reported net earnings grew 11 percent to $34.5 million. Revenues jumped 21 percent to $1.3 billion with all areas of its operations delivering double-digit revenue gains. Unadjusted per share earnings of $1.31 topped the $1.18 per share during the third quarter of 2013 when Lithia pocketed $30.9 million. Two weeks ago, Lithia issued a warning to investors saying it would fall short of its earnings projections of $1.36 to $1.38 per share. That sent shares tumbling as Lithia stock experienced a single-day loss of $16.85 per share to $64. Since then, the stock has modestly recovered and is trading above $70. CEO Bryan DeBoer identified used-vehicle inventory as Lithia's third-quarter problem. "We think most of it is behind us, but we still don't know whether the market continues to soften," DeBoer said. "We're obviously on our toes, and most of our stores are ready to respond as need be. I think we ended the quarter at a 55-day supply, which was about the same as last year." Ultimately, DeBoer said, it takes skill to acquire the right used-vehicle inventory. "There is a very fine line between having the right cars and the wrong cars, meaning when you're trying to expand your used-car retail sales, you try things," he said. "You're not as experienced knowing what cars specifically sell. So when you have a glut of trade-ins come off of new vehicle sales, or they become more available on the used vehicle wholesaler auction areas, it's easy to take the path of least resistance and buy newer cars, later model conquest cars that are really — let's call it a sucker's bet, because it's easy to buy, it looks good, it's going to go through the shop easy, so on and so on. But those are cars that quickly are damaged when the market weakens and they are pretty readily available at competitors." During the third quarter, Lithia's same store-sales increased 12 percent; new vehicle same-store sales increased 11 percent; used vehicle retail same-store sales increased 13 percent; service, body and parts increased 13 percent; per vehicle finance and insurance revenue climbed $97 to $1,202. Unadjusted net income from continuing operations through the first nine months of the year was $3.58 per share, up from $2.98 in 2013.   Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness, on Facebook at www.facebook.com/greg.stiles.31, and read his blog at www.mailtribune.com/Economic Edge.     By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 30, 2014 @ 9:00 am Updated Oct 30, 2014 at 4:38 PM » Comment or view comments Reader Reaction » 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. Your privacy is important, read our privacy policy. © Copyright 2014 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501