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|LKQ Corporation Posts Record Second Quarter 2012 Results|
"We entered the second quarter with the continued challenges of a mild winter followed by some volatility in the scrap market, but despite those uncontrollable dynamics, the Company achieved total organic revenue growth of 3.7% and organic revenue growth for parts and services of 6.3% in the quarter. Revenue growth from acquisitions was 29%," stated
On a six month year-to-date basis, revenue was
Total organic revenue growth on a six month year-to-date basis was 3.5%. Parts and services revenue grew organically by 4.9%. Acquisition revenue growth on a six month year-to-date basis was 28.5%.
"With the strength of our balance sheet and a robust pipeline of acquisition candidates, we continue to be in a good position to take advantage of acquisition opportunities. During the second quarter, we acquired seven companies that we believe are a good fit for our organization," added Mr. Wagman.
Balance Sheet and Liquidity
During the second quarter, LKQ acquired seven North American businesses that included a chrome accessories distribution business headquartered in
During the second quarter, LKQ's European operations opened
The Company updated its guidance for 2012.
Guidance for 2012 is based on current conditions and excludes the impact of restructuring and acquisition related expenses and gains or losses (including changes in fair value of contingent consideration liabilities) and capital spending related to acquisitions or divestitures.
Organic revenue guidance refers only to parts and services revenue.
Quarterly Conference Call
LKQ will host a conference call and Webcast on
To access the investor conference call, please dial (877) 407-0315. International access to the call may be obtained by dialing (201) 689-8501. An audio webcast can be accessed via the Company's website at www.lkqcorp.com in the Investor Relations section.
A replay of the conference call will be available by telephone at (877) 660-6853 or (201) 612-7415 for international calls. The telephone replay will require you to enter account: 286 #, conference ID: 397359 #. An online replay of the audio webcast will be available on the Company's website. Both formats of replay will be available through
Forward Looking Statements
The statements in this press release that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding our expectations, beliefs, hopes, intentions or strategies. Forward-looking statements involve risks and uncertainties, some of which are not currently known to us. Actual events or results may differ materially from those expressed or implied in the forward looking statements as a result of various factors.
These factors include:
You should not place undue reliance on these forward-looking statements. All of these forward-looking statements are based on our expectations as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.