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Friday, 31 March 2006 17:00

LKQ Corporation posts record revenues in 2005

Results are in for LKQ Corporation's (Nasdaq: LKQX) fourth quarter and year ended December 31, 2005, with revenue of $143.9 million for the quarter and $547.4 million for the year. Net income was $8.3 million for the quarter and $30.9 million for the year, representing growth over 2004 of approximately 64% and 50%, respectively. 

"We made eight excellent business acquisitions in 2005 and intend to continue to pursue acquisition candidates that will provide long-term value to our stockholders." We had a record level of revenue in the fourth quarter and exceeded our previously issued earnings estimates. We had revenue growth of approximately 27% for the quarter and 29% for the year. This included solid organic revenue growth of approximately 12% for the quarter and the year," said Joe Holsten, president and CEO.

"Our net income increased for the full year by 50% and our diluted earnings per share increased 37%. We were particularly pleased with the expansion of our 2005 annual operating income margin to 9.7% compared to 8.2% in 2004, which was primarily attributable to improved operating cost leverage.

 

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