Oregon’s sixth largest public company appears to have survived the great crash of the automobile industry.
The Medford-based chain of auto dealerships lost $252 million in 2008, but it has recovered powerfully in 2009 with two surprisingly profitable quarters.
So far this year, Lithia has earned nearly $5 million on $769.4 million in revenue or 24 cents per share, compared with a $245.9 million loss on $1.05 million in revenue or a loss of $12.31 per share in the same period in 2008.
“The restructuring plan we initiated in the second quarter of 2008 is proving to be successful,” said Sid DeBoer, chairman and CEO.
Read the full story from the Portland Business Journal.
