AutoNation Earnings: $0.45 EPS vs Consensus of $0.45 on Revenues of $3.3 Bn

“Revenue up 17% and new vehicle unit sales up 23% compared to same period in 2010
— Revenue and gross profit for all major categories – new vehicles, used vehicles, parts and service, and finance and insurance – improved compared to first quarter of 2010
— EPS from continuing operations was a record (1) $0.46, up 35% compared to first quarter 2010 EPS from continuing operations of $0.34
— AutoNations 2011 full-year industry U.S. new vehicle sales outlook revised downward from 12.8 million to mid-12 million units due to Japanese supply constraints through year-end”

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