Carmel-based KAR Auction Services Inc. saw revenue climb but profit shrink in the first quarter, the company said Monday.

Carmel-based  KAR Auction Services  Inc. on Monday said it doubled its profit in the fourth quarter compared to the same quarter of the previous year.

Carmel-based KAR Auction Services suffered a 16-percent decline in its adjusted profit, missing analyst expectations.

Carmel-based KAR Auction Services Inc. is the holding company for ADESA Inc., which operates used-vehicle auctions at 70 locations, Insurance Auto Auctions Inc., which operates salvage auctions at 159 locations, and Automotive Finance Corp., which provides floor-plan financing at 89 locations.

Adesa said it plans to acquire Redwood City, Calif.-based OpenLane Inc. for $210 million in cash. OpenLane expects to sell more than 300,000 vehicles to dealers this year and generate about $100 million in revenue.

Carmel-based used and salvaged vehicle auctioneer KAR Auction Services, Inc. said it lost $14.3 million in the second quarter due to the early payoff of debt.

The parent company of the Adesa auto auction firm more than quadrupled its first-quarter profit on revenue that increased 5 percent.

KAR Auction Services Inc., a provider of vehicle-auction services, is seeking to refinance existing debt with a $1.5 billion senior secured term loan and a $250 million senior secured revolving credit facility.

Carmel-based KAR Auction Services Inc. announced Wednesday that it pulled in profit of $7.3 million in the three months ended Dec. 31, a 38-percent jump from the $5.3 million earned in the same quarter the prior year.

KAR Auction Services Inc. announced Monday night that it plans to expand its Carmel headquarters, creating up to 249 jobs by 2015.

The auction company had revenue of $445.3 million in the quarter ended Sept. 30, a 4-percent increase from same quarter of 2009. Profit tripled, to $25.6 million.

Carmel-based KAR Auction Services Inc. on Wednesday reported a first-quarter profit of $8.1 million, reversing a $3.5 million loss in the same period last year.

KAR Auction Services reported a profit of $5.3 million in the fourth quarter after sustaining a loss in the same period in 2008. The company's CEO attributed the turnaround to several factors, including the completion of an initial public offering.

The Carmel-based auctioneer had expected to raise $340.9 million through its IPO, but the company said it would sell 25 million common shares at $12 each for total proceeds of $300 million.

Carmel-based KAR Auction Services Inc. on Monday said the company turned a profit in the third quarter, although revenue decreased slightly.

Less than two years after being driven out of Adesa Inc. as unceremoniously as a Buick down its auction lanes, James Hallett is back behind the wheel of the nation's No. 2 wholesale vehicle-auction company.