Proofpoint, Inc. (NASDAQ:PFPT) Q1 2019 Earnings Conference Call - Final Transcript
Apr 25, 2019 • 04:30 pm ET
Welcome to AutoNation's Fourth Quarter 2014 Earnings Conference Call. At this time all participants are in a listen-only mode. After the presentation we will conduct a question-and-answer session. [Operator Instructions]. Today's conference is being recorded. If you have any objections, you may disconnect at this time.
Now I will turn the call over to Andrew Wamser, Treasurer and Vice President and Investor Relations for AutoNation.
Good morning, and welcome to AutoNation's fourth quarter 2014 conference call and webcast. Leading our call today will be Mike Jackson, our Chairman and Chief Executive Officer; Mike Maroone, our President and Chief Operating Officer; Cheryl Scully, our Chief Financial Officer and Jon Ferrando, our Executive Vice President responsible for M&A. Following the remarks, we will open up the call for questions. Rob Quartaro and I will also be available by phone following the call to address any additional questions that you may have.
Before we begin, let me read our brief statement regarding forward-looking comments. Certain statements and information on this call will constitute forward-looking statements within the meaning of the Federal Private Securities litigation Reform Act of 1995. Such forward-looking statements involve risks, which may cause the actual results or performance to differ materially from such forward-looking statements.
Additional discussions of factors that could cause actual results to differ materially are contained in our press release issued earlier today and our SEC filings, including our most recent annual report on form-10K, and subsequent quarterly reports on Form 10-Q, and current reports on Form 8-K.
Certain non-GAAP financial measures, as defined under sec rules will be discussed on this call. Reconciliations are provided in our press release, which is available on our website at investors.autonation.com.
And now I'll turn the call over to AutoNation's Chairman and Chief Executive Officer, Mike Jackson.
Good morning. Thank you for joining us. Today, we have reported an all-time record quarterly earnings per share from continuing operations of $1.02 for the fourth quarter, a 23% increase on a per-share basis as compared to $0.83 for the same period in the prior year. This is our 17th consecutive quarter of double-digit year-over-year growth in quarterly EPS from continuing operations.
For the full year, adjusted EPS from continuing operations of $3.49 was also an all-time record, up 17% over prior year.
Fourth quarter 2014 revenue totaled $5 billion, an increase of 12%, driven by stronger performance in all our major business sectors. We also reported an increase of 12% in operating income to $227 million. Revenue for the full year was $19.1 billion, up 9% over prior year. Operating income for the full year was $821 million, an increase of 11% over prior.
During 2014, AutoNation repurchased 9.4 million shares for an aggregate purchase price of $485 million. As of February 2, 2015, AutoNation has approximately 113 million shares outstanding.
Our planning assumption for 2015 industry new vehicle unit sales is above 17 million for the year. We believe that replacement demand, attractive products and great consumer credit will continue to support