Dollar Thrifty Expects to Post 3rd-Quarter Profit

Dollar Thrifty Automotive Group Inc. said Oct. 22 it expects to record a profit in the third quarter, according to

“With today’s unprecedented challenges in the economy, maintaining sufficient liquidity and unrestricted cash are important factors to help companies weather this cycle," said Scott L. Thompson, Dollar Thrifty president and chief executive.

Thompson said economic challenges “may exacerbate” the seasonal downturn in rental operations this year.

The car rental company also expects to end the quarter with an unrestricted cash balance of at least $200 million, up from $80 million as of June 30. A cash dividend from its vehicle finance subsidiary provided the boost.

The company posts quarterly results on Nov. 5.

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