Solera Holdings posts 4th-qtr profit as rise in auto recycling revenue offsets other declines

Solera Holdings posts fiscal 4Q profit

SAN DIEGO — Solera Holdings Inc., which provides software and services for the auto insurance claims industry, said Thursday it posted a fiscal fourth-quarter profit as revenue gains in the company’s automotive recycling unit offset declines in other areas.

The company earned $11.8 million, or 17 cents per share, compared with a loss of $21.6 million, or 34 cents per share, a year ago.

Adjusted to exclude one-time items, net income was 39 cents for the quarter.

Revenue fell slightly to $144.1 million from $145.5 million in the fiscal 2008 fourth quarter.

Analysts polled by Thomson Reuters predicted a profit of 38 cents per share on $138.6 million in sales. Analysts tend to exclude most one-time items from their estimates.

Revenue from automotive recycling and other customers was $20.5 million for the fourth quarter, a 34 percent increase from a year earlier.

For the full fiscal year, Solera’s profit climbed to $57.8 million, or 85 cents per share, compared with $598,000, or a penny per share, in fiscal 2008.

Revenue rose to $557.7 million, from $539.9 million in the prior fiscal year.

Shares rose 59 cents, or 2.3 percent, to close Thursday at $26.69.