PROXY CORNER: KAR Auction Services Inc.

KAR Auction Services Inc., 13085 Hamilton Crossing Blvd, Carmel 46032, 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. In the six months ended June 30, KAR (karauctionservices.com) earned $25.5 million, or 19 cents per share, on revenue of $953.3 million. That compares with earnings of $36.7 million, or 27 cents per share, on $928.4 million in revenue in the same period a year earler. KAR shares trade on the New York Stock Exchange under the ticker KAR. Information for Proxy Corner came from Yahoo Finance and the company’s proxy statement dated April 12, 2011. View full Proxy Corner feature