Lithia continues rebound

In addition to reporting its third-straight profitable quarter, Lithia is ready for acquisitions.

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Lithia Motors Inc. continues to cruise back into profitability, and the company is ready to grow again with more acquisitions.

The Medford auto retailer said Thursday it is ready to once more acquire auto dealerships after an 18-month stretch in which it closed or sold 20 dealerships, leaving it with 87 stores in 12 states.

Lithia reported a $5.7 million third-quarter profit, or 26 cents per share, on revenue of $458.2 million. That’s a substantial turnaround from the same period in 2008, when the company lost $2.4 million on sales of $507 million.

Read the full story at the Mail Tribune.

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