United Auto Group 3Q profit even with 2004...

Auto retailer United Auto Group Inc. on Tuesday said earnings for the third quarter were about even with a year-ago period that benefited from certain one-time items.

Net income was $32.8 million, or 70 cents per share, compared with $32.4 million, or 70 cents per share a year earlier. Year-earlier results were boosted by a gain of $4.9 million, or 10 cents per share, resulting in part from the sale of an investment and a refund of taxes in the U.K.

Revenue rose 11 percent to $2.8 billion from $2.53 billion, driven by a 10.3 percent rise in retail vehicle revenues and 14.3 percent growth in service and parts revenues.

The company's earnings matched the mean estimate of analysts surveyed by Thomson Financial, but revenue fell below Wall Street's forecast of $2.95 billion.

United Auto is the No. 2 publicly traded auto dealer in the U.S., behind AutoNation, and operates about 250 dealerships in some 20 states, Puerto Rico, Brazil, and the U.K. Same-store sales, or sales at stores open at least one year, rose 7 percent.

United Auto forecast earnings in the range of 51 cents to 56 cents per share for the fourth quarter and $2.40 to $2.45 per share for the full year. Analysts are looking for quarterly earnings of 56 cents per share and full-year profit of $2.43 per share.

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