LKQ Corp. has announced results for its fourth quarter and full year
ended Dec. 31, 2011. Income from continuing operations for the fourth
quarter was $56.1 million and diluted earnings per share were 38 cents, a
36 percent increase over the 28 cents per share reported for 2010. For
the full year 2011, income from continuing operations was $210.3 million
and diluted earnings per share were $1.42, a 23 percent increase over
the $1.15 reported for 2010.
 
"We completed a successful 2011 with a solid fourth quarter," said
Robert Wagman, president and CEO of LKQ Corp. "In 2011, the company
surpassed $3 billion in revenue for the first time, and achieved double
digit total organic revenue growth and diluted EPS growth despite the
headwinds of high fuel costs, the high cost of salvage vehicles and the
reduction in miles driven that we faced throughout the year."
 
Wagman added, "We made 21 acquisitions in 2011 including the purchase of
Euro Car Parts. The financial performance of these businesses and their
integration into our existing operations is progressing as expected."
 
For the fourth quarter of 2011, revenue was $939.6 million compared with
$674.1 million for the fourth quarter of 2010, an increase of 39.4
percent.
 
For the full year of 2011, revenue was $3.27 billion compared with $2.47
billion in 2010, an increase of 32.4 percent. Acquisition revenue
growth for 2011 was 21.5 percent.
 
During the fourth quarter, LKQ acquired four businesses including the
previously announced Euro Car Parts acquisition, the largest automotive
aftermarket parts distributor in the United Kingdom. In North America,
the company acquired a heavy-duty truck business in Colorado, a
wholesale salvage business in Idaho and a classic vehicle restoration
parts and accessories distribution business in Georgia.
 
Based on current conditions and excluding restructuring expenses and any
gains or losses related to acquisitions or divestitures (including
changes in the fair value of contingent consideration liabilities), LKQ
anticipates full year 2012 organic revenue growth from parts and
services will be in the range of 5.5 percent to 7.5 percent, income from
continuing operations will be in the range of $258 million to $278
million and diluted earnings per share from continuing operations will
be in the range of $1.72 to $1.85.