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Adesa profit, revenue shoot up

August 13, 2008
Carmel-based KAR Holdings Inc., which owns the Adesa Inc. auto auction and Insurance Auto Auctions Inc., reported late yesterday that second-quarter profit increased nearly 35 percent to $6.2 million from the second quarter last year.

KAR, which didn't elaborate on the performance, had no operations until its acquisition of Adesa closed on April 20 in 2007.

Revenue climbed to $468.5 million from $310.1 million.

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