DTG's Net Income $17.9 Million for 2nd Quarter

TULSA, Okla. –- Dollar Thrifty Automotive Group Inc. reported its net income for the second quarter was $17.9 million, or 68 cents per share. For the same quarter in 2003, net income was $6.3 million, or 25 cents per share.

Total revenue for 2004's second quarter was a record $354.9 million, a 17% increase over last year's second quarter. For the first six months of 2004, total revenue was $653.6 million, an 18% increase over the first half of 2003.

DTG's vehicle rental revenue totaled $317 million during the second quarter, a 30% increase over the same period last year. A 35% jump in rental days fueled the growth.

"We are very pleased with another quarter of exceptional revenue growth and profit performance," said Gary L. Paxton, president and CEO of DTG. "During the second quarter, we benefited from strong same-store growth and increased revenue from our franchise-acquisition program. We also continued to improve our vehicle utilization rate and made excellent progress in improving vehicle costs to combat lower revenue per day resulting from highly competitive industry conditions."

The company's utilization rate for the quarter was 85.4%. Daily dollar average was $39.30. The company sold 8 million rental days during the quarter.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

A Shared Mobility Model Takes Shape for Fleets

Technology that allows cab drivers flexible access to a shared fleet is leveling the playing field for an 89-year-old taxi company.

Safety Tech: Crash Avoidance or Sensory Overload?

As advanced safety technologies become even more pervasive on mainstream vehicles, are we creating “stupid drivers?"

Own the Fleet, Own the Future

In the dialogue surrounding new transportation paradigms, fleets have been off the public radar until recently. Here’s what’s going on, and a way for you to participate in the conversation.

Job Finder: Access Top Talent. Fill Key Positions.

>