Dollar Thrifty Reports Q1 Loss

Dollar Thrifty Automotive Group, Inc. recently reported results for the first quarter ended March 31, 2008. The net loss for the 2008 first quarter was $297.9 million, or $14.07 loss per share, compared to net income of $5.2 million, or $0.21 per share, for the comparable 2007 quarter.

The decrease in first quarter net income year over year included a $12.52 loss per share related to the impairment of goodwill and other intangible assets and a $0.78 decrease in fair value of derivatives, the car rental company reports.

Sales remained almost flat at $396.5 million, coming above analysts' expectation of $387 million.

Vehicle depreciation costs per vehicle rose about 31 percent due mainly to softness in the used car market, the company said in a statement.

For the full year, the company still sees earnings of $1.00 to $1.50 a share.

Shares of the Tulsa, Oklahoma-based company closed at $13.23 May 9 on the New York Stock Exchange.

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

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Should Peer-to-Peer Renters Pay Airport Car Rental Fees?

The question is central to the City of San Francisco’s lawsuit against Turo for operating without a permit at San Francisco International Airport.

Hard Times Ahead for the Compact SUV Segment?

The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.

Job Finder: Access Top Talent. Fill Key Positions.

>