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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 Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Mail Tribune 100: Oct. 21, 1915 ... Helping Ugandans help themselves ... OHSU opens rural 'hub' campus in Klamath Falls ... Mail Tribune 100: Oct. 21, 1915 ... Helping Ugandans help themselves ... OHSU opens rural 'hub' campus in Klamath Falls ... AUTOMOTIVE Lithia Motors 3Q revenue $2.1 billion; net income $43.4 million By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 21, 2015 @ 7:54 am Updated at 8:05 AM By Greg Stiles Mail Tribune Posted Oct. 21, 2015 @ 7:54 am Updated at 8:05 AM » 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" --> Lithia Motors today reported third-quarter net income of of $43.4 million, up sharply from $34.5 million a year ago, on revenue of of $2.1 billion. The Medford auto retailer's per share earnings for the quarter, ending Sept. 30, were $1.64, up from $1.31 in the third quarter of 2014. Lithia's adjusted net income, excluding a charge-off related to an employee transition agreement, was $53.6 million for the third quarter. It was the company's highest-ever quarterly net income, and a 54 percent year-over-year increase. Revenue rose $788 million, or 61 percent from $1.3 billion in the quarter. “Same store sales in all four business lines grew by double digits, led by a 13 percent increase in used vehicle sales," Bryan DeBoer, President and CEO said in a statement. "A robust new vehicle sales environment, improving supply of late model used vehicles, and the continued growth in our service, body and parts business is allowing our store leaders to unlock new opportunities to improve performance across our company." Overall same store vehicle sales grew 12 percent, new vehicle sales 11 percent. Service, body and parts revenue grew 10 percent. For the first nine months of the year, Lithia has seen revenue grow 63 percent to $5.9 billion from $3.6 billion in 2014. During that period per share earnings were $5.10, up from $3.58 for the first nine months of 2014. "We remain positive on the overall outlook for both organic and acquisition growth in 2016,” DeBoer said. Lithia shares were up 3.3 percent to $110.07, in early trading on the New York Stock Exchange. By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 21, 2015 @ 7:54 am Updated at 8:05 AM » Comment or view comments Terms of Service /* $( 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 Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site 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 2015 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