Sonic Automotive 2Q ongoing profit edges analyst estimates; revenue slips

Tue. July 29, 2008; Posted: 07:44 AM

BOSTON, Jul 29, 2008 (Thomson Financial via COMTEX) -- SAH | Quote | Chart | News | PowerRating -- Sonic Automotive Inc. Tuesday reported second-quarter earnings from continuing operations of $20.1 million, or 49 cents a share, compared with income of $28.8 million, or 62 cents a share, a year earlier.

The mean estimate of analysts polled by Thomson Reuters was for earnings of 48 cents a share.

Revenue for the three months ended June 30 slipped to $1.98 billion from $2.01 billion a year ago. Wall Street analysts had, on average, estimated sales of $1.98 billion.

Shares of the Charlotte, N.C.-based automotive retailer closed Monday at $9.51. Greg Saulnier gs/tk1

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For full details on Sonic Automotive Inc (SAH) click here. Sonic Automotive Inc (SAH) has Short Term PowerRatings of 4. Details on Sonic Automotive Inc (SAH) Short Term PowerRatings is available at This Link.

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