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Lithia reports record revenue and earnings Wednesday Feb 15, 2017 at 7:12 AM Feb 15, 2017 at 8:01 AM Greg Stiles Mail Tribune @GregMTBusiness Lithia Motors reported total 2016 revenue of $8.7 billion, a 10 percent gain over its $7.9 billion 2015 figure. The Medford-based auto retailer's net income for the year grew 7.7 percent to $197 million, or $7.72 per share, from $183 million, or $6.91 per share, in 2015. The company's fourth-quarter revenue jumped 15 percent to $2.3 billion from $2 billion for the similar period in 2015. Lithia's profit grew 7.5 percent to $51.3 million, or $2.03 per share, during the final quarter of the year from $47.7, or $1.80 per share. Lithia increased same store sales in all core business lines, CEO and President Bryan DeBoer said, including double-digit growth in used vehicle sales and record performance in finance and interest. He said 60 locations attained record profitability in 2016. "We will continue to target gaining market share and controlling costs to improve store performance in 2017 and beyond,” DeBoer said. During the fourth quarter, total same store sales grew 5 percent, new vehicle store sales rose 4 percent and used vehicle sales rose 11 percent. For all of 2016, same store sales rose 5 percent, new vehicle sales were up 3 percent and used sales grew 11 percent. Lithia Motors shares were trading at $102.17, up 37 cents at 8 a.m. this morning. — 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