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Lithia Motors fourth-quarter revenue jumps

 Posted: 10:50 AM February 19, 2014

Lithia Motors' shares got a nice early-morning jolt thanks to better than anticipated fourth-quarter results.

The Medford auto retailer topped off a strong year by announcing fourth-quarter 2013 adjusted net income of $25.7 million, or 98 cents per share, up 33 percent from $19.3 million, or 74 cents per share, for the final three months of 2012.

Total revenue grew 16.8 percent to $1.025 billion for the quarter.

For all of 2013, Lithia Motors saw its revenue surpass $4 billion, a 20.8 percent gain over 2012's $3.3 billion figure.

Lithia acquired seven stores during 2013 and the pace hasn't slowed in 2014.

Lithia shares, which closed at $58.99 on Tuesday, jumped as high as $64.59 in early trading today before retreating slightly.

— Greg Stiles

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