Insurance Auto Auctions Announces Results

In their financial reports released today, Insurance Auto Auctions is pleased to show that they are showing record revenues over their previous performances. The company released its fourth quarter and full year reports for 2006, which show an increase of 32.5% in their fourth quarter results.

The company used live auctions, integrated acquisitions, and the internet to bring in $92.6 million for the fourth quarter recorded revenues – an increase over 2005 which showed $69.9 million. Their fee income in the same quarter increased to $79.2 million, which is also an increase over the previous year’s $59.6 million.

The company also showed an increase of their EBITDA of 56.4% which is a big difference over the previous year, with 2005 being $10.1 million fourth quarter, and 2006 being $15.8 million. Experts say that the company is holding strong and is expected to do even better this year.

They showed full year results of $332.1 million, as compared to the year before of $280.9 million – an overall increase of 18.2%. Fee income went up approximately $48.8 million, and EBITDA went up $6.1 million. The company says that they will continue to offer their clients the same things that Insurance Auto has always offered, as well as strengthening those things that people find most popular. They anticipate a stronger growth from here.

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