One figure appeared four different times when Lithia Motors reported the highest first-quarter adjusted net income in company history on Wednesday. Lithia enjoyed 11-percent increases in four major performance categories, including:

— Used-vehicle retail same-store sales

— New-vehicle same-store sales

—Total same-store sales

—Service, body and parts same-store sales

The Q1 performance of those four dealer business areas helped to propel Lithia to an increase in adjusted net income from continuing operations of 36 percent compared to the prior-year period. That adjusted net income from continuing operations figure came in at $36.9 million, or $1.39 per diluted share, up from $27.1 million, or $1.03 per diluted share, a year earlier.

The company’s first-quarter revenue soared $711 million (or 66-percent) higher to $1.8 billion, up from $1.1 billion in the same period last year.

Now with DCH Auto stores in the Lithia portfolio, the dealer group’s sales figures are significantly higher year-over-year. Here are some of the highlights in connection with the used and F&I departments and year-over-year comparisons:

— Used retail unit sales: 24,204, up by 7,888 vehicles (or 48.3 percent)

— Average used-vehicle selling price: $19,126, up $623 (or 3.4 percent)

— Average gross profit per used-vehicle retail sale: $2,456, down $44 (or 1.8 percent)

— Finance and insurance gross profit per retail sale: $1,178, down $2 (or 0.2 percent)

On a same-store basis, Lithia pointed out that F&I per unit increased $52 to $1,233. The company added that adjusted SG&A expense as a percentage of gross profit came in at 71.3 percent

"We delivered the best first quarter earnings in our company’s history, and the second best quarterly earnings ever,” Lithia president and chief executive officer Bryan DeBoer said.

“For the fourth consecutive quarter, we achieved double-digit growth in same-store sales in all business lines,” DeBoer continued. “On a continuing operations basis, we grew revenue 66 percent and adjusted net income 36 percent over the first quarter of 2014.

“We remain focused on capturing additional market share, improving existing store results, the continued success, integration and growth of DCH and actively seeking accretive acquisitions,” he went on to say.

Senior vice president and chief financial officer Chris Holzshu noted SG&A as a percentage of gross profit ended up slightly higher than the prior year due to the effect of Lithia’s DCH acquisition and better than the company’s projection.

“We target improving SG&A as a percentage of gross profit as we integrate the 36 stores added in 2014,” Holzshu said.

“In the first quarter, incremental throughput, or the percentage of additional same store gross profit dollars that we retain after deducting incremental selling costs, was 45.1 percent,” he continued.

“Our stores remain focused on maintaining incremental throughput of 45 percent to 50 percent, which will continue to lever our SG&A expense going forward,” Holzshu added.

Editor’s Note: For Lithia’s perspective on how increased wholesale supply is going to enhance its used-vehicle performance during the next year and beyond, be sure to watch for Monday’s edition of Auto Remarketing Today.