MEDFORD, Ore. - Lithia Motors, Inc today announced that, excluding a one-time after-tax expense of $1.3 million (or seven cents per share) related to the recently completed investigation, losses from continuing operations were three cents per share. The company's guidance for the quarter was for a loss of five to ten cents per share.
First quarter 2008 sales were $699.3 million, a 9.7% decrease from $774.5 million in the same period last year. First quarter 2008 loss from continuing operations was $1.9 million. This compared to earnings of $7.2 million in the first quarter of 2007, which included extremely strong sales in March.
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