Insurance Auto Auctions’ Earnings Increase 64%
Insurance Auto Auctions Inc., a North Hollywood seller of salvaged automobiles, reported that its profits and revenues surged in the third quarter and latest nine-month period.
In the quarter ended Sept. 30, Insurance Auto earned $1.97 million, up 64% from $1.2 million a year before. Its revenue jumped 79% to $28.5 million from $15.9 million.
For the nine months, the company had a profit of $4.93 million, a 62% gain from $3.04 million a year earlier, while its revenue leaped 76% to $76.2 million from $43.3 million.
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