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Lithia posts lower fourth quarter earnings as expenses rise

From Reuters| February 17,2007

Car dealership group Lithia Motors Inc. today posted a 47-percent decline in fourth quarter earnings as higher expenses more than offset a gain in new vehicle sales.

Net income was $5.53 million, compared with $10.49 million a year earlier.

Lithia Motors ranks No. 8 on the Automotive News list of the top 100 dealership groups in the United States with retail sales of 59,956 new vehicles in 2005.

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