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Sonic Automotive quarterly earnings rise

From Reuters| February 28 , 2007 18:11 BJT

DETROIT (Reuters) -- Car dealer Sonic Automotive Inc. today said quarterly earnings rose, boosted by improved revenues.

The Charlotte, N.C., company said fourth quarter profit was $23.2 million, or 52 cents a share, as compared with $20.9 million, or 48 cents a share, a year earlier.

The company earned 63 cents a share from continuing operations, above Wall Street expectations for 60 cents.

Sonic Automotive ranks No. 3 on the Automotive News list of the top 100 dealership groups in the United States with retail sales of 143,757 new vehicles in 2005.

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