KAR Holdings, Inc. Reports Second Quarter 2008 Results

This just off of marketwatch.com:

Last update: 4:27 p.m. EDT Aug. 12, 2008
CARMEL, Ind., Aug 12, 2008 (BUSINESS WIRE) — KAR Holdings, Inc. today reported its second quarter financial results for the three months ended June 30, 2008. For the second quarter of 2008, the company reported revenue of $468.5 million as compared with second quarter 2007 revenue of $399.7 million for the combined companies of ADESA, Inc. (“ADESA”) and Insurance Auto Auctions, Inc. (“IAAI”), an increase of 17.2%. Adjusted EBITDA, excluding pro forma adjustments for recent acquisitions and cost savings, as defined in the company’s senior credit facility dated April 20, 2007, increased 15.7% to $122.6 million in the second quarter of 2008, as compared with second quarter 2007 adjusted EBITDA of $106.0 million for the combined companies of ADESA and IAAI.
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