Chicago, Illinois -- March 10, 2014 -- LKQ Corporation has announced results for its fourth quarter and full year ended December 31, 2013. Net income for the fourth quarter was $77.9 million and diluted earnings per share was $0.26, a 23.8 percent increase over the $0.21 reported for the fourth quarter in 2012. For the full year 2013, net income was $311.6 million and diluted earnings per share was $1.02, a 17.2 percent increase over the $0.87 reported for 2012.
"We reached a major milestone in 2013 by surpassing $5 billion in annual revenue for the first time. We also delivered double digit revenue, diluted earnings per share, and parts and services organic revenue growth in 2013 while simultaneously expanding our footprint and product offerings in North America and Europe. I am particularly proud of the 24 percent growth in our diluted earnings per share for the fourth quarter and the record full year results,â€ said Robert Wagman, President and Chief Executive Officer of LKQ Corporation.
Fourth Quarter 2013 Reported Results
For the fourth quarter of 2013, revenue was $1.32 billion compared with $1.07 billion for the fourth quarter of 2012, an increase of 23.3 percent. Net income for the fourth quarter was $77.9 million compared with $62.2 million in the prior year, an increase of 25.2 percent. For the fourth quarter, total organic revenue growth was 7.7 percent, including parts and services revenue growth of 9.9 percent. Acquisition revenue growth for the fourth quarter was 15.8 percent.
Full Year 2013 Reported Results
For the full year of 2013, revenue was $5.06 billion compared with $4.12 billion in 2012, an increase of 22.8 percent. Net income for the full year was $311.6 million compared with $261.2 million for the prior year, an increase of 19.3 percent. For the full year of 2013, total organic revenue growth was 9.3 percent, including parts and services revenue growth of 11.0 percent. Acquisition revenue growth for 2013 was 13.8 percent, while changes in foreign exchange rates had a 0.4 percent negative impact on revenue.