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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 Only a few bills still alive in what remains of Oregon legislative session ... Oregon Senate GOP wreaks havoc with Democrat agenda ... Ashland police seek suspect in armed robbery ... Only a few bills still alive in what remains of Oregon legislative session ... Oregon Senate GOP wreaks havoc with Democrat agenda ... Ashland police seek suspect in armed robbery ... EARNINGS REPORT Lithia goes against tide with 4th-quarter profits Profit hits $183 million in 2015, sales approach $3 billion By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Feb. 24, 2016 @ 5:49 pm By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Feb. 24, 2016 @ 5:49 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" --> While portions of the publicly traded automotive sales sector may have struggled in the fourth quarter, that wasn't the case with Lithia Motors. The Medford-based auto retailer reported net fourth-quarter earnings of $47.7 million on revenue of just under $2 billion, boosting the company's total 2015 profit to $183 million on revenue of $2.9 billion. "Despite headwinds reported from some of the industry, our store leaders successfully responded to their local and differing market conditions," Lithia CEO Bryan DeBoer said. The company's share price, pulled down by both global market and struggles by some of its peers, rose $6.86 to $94.02 during Wednesday trading on the New York Stock Exchange. It had dropped to below $75 amid the stock market downturn, after peaking at $126 on Dec. 1. During a conference call with analysts, DeBoer noted the asking price for auto dealerships has continued to climb following the recession. "There is no question that in the last 24 months that asking prices on deals are probably higher than historical averages," he said. "However, there are probably two times to three times as many deals as there has typically been out there, even in pre-recessionary days." However, the run-up may be near an end. "What will start to happen is the asking prices and the realization of what money can actually be obtained to sell your store will more likely come and subside a little bit," DeBoer said. "Even with the high asking prices, we somehow seem to find those opportunities, because typically we buy off what the earnings of the sellers are and we typically buy average to somewhat under-performing stores, which allows us to have the high return on our investments that we expect. "Ultimately, there is only so much that a seller can affordably sell for and still retire." DeBoer said that Lithia views dealerships with annual revenue of $100 million as its "meat and potatoes." Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at https://www.facebook.com/greg.stiles.31. By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Feb. 24, 2016 @ 5:49 pm » 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 2016 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