Dollar Thrifty Projects Significant Improvements, 4Q Profit
December 10, 2009
| |
TULSA, Okla. — Based on preliminary estimates, Dollar Thrifty Automotive Group expects to reach somewhere between $10 million and $15 million in corporate adjusted EBITDA for the fourth quarter, following a loss of $43.4 million in the same period a year ago.
Meanwhile, the company anticipates full-year corporate adjusted EBITDA to hit a range of $83 million to $88 million, compared with a loss of $2.3 million last year.
Additionally, Dollar Thrifty confirmed its prior projections for full-year rental to drop 8 percent to 10 percent.
"Our strategy for 2009 involved a significant number of actions to return the company to profitability while navigating through the significant challenges of the current economic downturn," explained chief executive officer and president Scott Thompson. "We are very pleased with how the company has performed during 2009 and the way the year is ending.
"We believe the success of the actions taken in 2009, combined with our recent equity offering, position the company well for 2010 and beyond," Thompson continued. "We greatly appreciate the support that we received in 2009 from our manufacturer partners, our lenders and our employees as we worked to significantly change the company's direction and competitive position."
- Hertz Continues to Claim It Has Lead Over Avis in Potential DTAG Merger
- KeyBanc Expects SAAR Improvements to Persist
- Manheim Daytona Beach Security Guards Help to Thwart Robbery Attempt
- Edmunds.com: August Incentives Stronger than Typical
- Dealer Synergy to Host Internet Sales Twenty Group Workshop
- Chicago Dealers Gain New Marketplace to Facilitate Sales, Drive Leads