Coins DIG

AutoNation logged an 8 percent sales increase in the fourth quarter, a sign that supports its view that a recovery in auto sales is under way.

The auto retailer, based in Fort Lauderdale, also said it expects industry sales to rise in 2010, even as Toyota's massive recall disrupts sales of the Japanese automaker's cars in the first quarter.

``The worst is over,'' Chief Executive Mike Jackson said in an interview with The Associated Press. ``We have a firm bottom and the recovery is under way.''

For the quarter ended Dec. 31, AutoNation earned $61.7 million, or 35 cents per share, compared with $67.1 million, or 38 cents per share, a year earlier. Excluding one-time items, adjusted income from continuing operations was $50 million or 29 cents per share, compared with $23 million or 13 cents per share in 2008. Revenue rose 8 percent to $2.82 billion.

TRADESTATION GROUP: The provider of electronic trading platforms, based in Plantation, said profit and revenue fell in the fourth quarter of 2009, compared to the year-ago period. It said net income was $2.7 million, or 7 cents per share, compared to net income of $7.6 million, or 10 cents per share, in the year-ago period. Revenue fell 24.6 percent to $31.2 million.

It said lower brokerage commissions and reduced market volatility and market volumes led to the weaker results.

MARRIOTT INTERNATIONAL: The largest U.S. hotel chain said it returned to profit in the fourth quarter through cost cuts and increasing demand from travelers.

Net income in the 16 weeks ended Jan. 1 was $106 million, or 28 cents a share, compared with a loss of $10 million, or 3 cents, a year earlier, the company said.

Source: miamiherald.com