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.