ANC Announces $23.6 Million Net Loss for Second Quarter, Sale of Company Being Explored

FT. LAUDERDALE, Fla. -- ANC Rental Corp. on August 2 announced a net loss of $23.6 million for the second quarter, representing a loss of $0.52 per share. Revenue for the three-month period was $850.6 million -- $58.6 million below last year's second-quarter revenue totals.

Michael S. Egan, chairman and CEO, said the company is now exploring options for a turnaround. "We have engaged Lehman Brothers to assist us in evaluating these options, which could include, among other possibilities, a significant investment by a third party or the sale of the company," he said.

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