Penske Q3 revenues up 6.5%

For the third quarter of 2010, the company posted a net income of $30.26m.

Penske Automotive Group has reported total revenues of $2.75bn for the third quarter ended 30 September 2010, an increase of 6.5% compared to $2.58bn for the same period in 2009.

For the third quarter of 2010, the company posted a net income of $30.26m, compared to $27.66m for the same period in 2009. Gross profit was $429m compared to $422m for the same period in 2009.

For the nine months ended 30 September 2010, total revenues were $7.94bn, compared to $7.06bn for the same period in 2009.

The company posted a net income of $80.27m for the nine months of 2010, compared to $58.03m for the same period in 2009.

The company posted a gross profit of $1.27bn for the nine months of 2010, compared to $1.18bn for the same period in 2009.

Income from continuing operations attributable to common shareholders in the nine months ended 30 September 2010 amounted to $80.9m, or $0.88 per share compared to income from continuing operations attributable to common shareholders of $63.9m, or $0.70 per share saem period prior year.