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Lithia's third quarter earnings highest in company history

 Posted: 7:20 AM October 23, 2013

The third quarter was a smashing success for Medford's Lithia Motors.

The nation's ninth-largest auto retailer today reported its highest quarterly adjusted profit in company history of $29.6 million, or $1.13 per share.

This is a 27 percent gain from the third quarter of 2012 when the company netted $23.1 million, or 89 cents per share.

Adding in a one-time tax-related adjustment, Lithia netted $30.9 million, or $1.18 per diluted share.

Lithia grew third-quarter revenue 22 percent to $1.1 billion from $878.5 million in the third quarter of 2012.

— Greg Stiles

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