insurance auto auctions drives record returns for its custom

Insurance Auto Auctions, Inc., a leading provider of automotive rescue and claims processing services in the United States, today announced document vehicle returns during the second quarter.

IAA’s dual bidding strategy has continued to drive added buyers to the Company’s auctions than ever before, resulting in increased bidding action and higher vehicle returns for its insurance company suppliers.

“Combining the feedback we accept been receiving from our customers with our internal data, we accept our vehicle returns were the highest in the industry during the quarter, which we air is a direct aftereffect of our dual bidding platform and improved levels of customer service,” said Tom O’Brien, CEO. “On average, our returns accept increased added than $300 per unit compared to 2003, providing a significantly bigger return for our insurance company suppliers. Our alive auctions, most of which aspect Amble & Drive(R) auction lanes, are supplemented with our state-of-the-art Internet bidding capability, giving our growing customer base the flexibility to beam and easily on our vehicles up close or buttoned up the Internet from anywhere in the apple in a absolute-age setting. Enthusiastic buyer abutment of our auction model is clearly evident from the access in buyer participation we accept experienced, both at alive auctions and via the Internet. By encouraging added buyers to come on to our bidding platform than ever before, we accept that during the quarter we were able to generate added bidding action and the highest vehicle returns in the industry.”

Commenting further on the Company’s recent operating performance, O’Brien said, “We haven’t missed a beat throughout the alignment since the close of the Kelso & Company acquisition in unpunctual May. The transaction has allowed us to bull's eye even added of our age and energy on improving our operations and service levels to our customers, translating into much higher returns for our suppliers and higher profits for IAA. The Company generated revenues of $71.9 million in the second quarter, compared with $60.0 million in the selfsame quarter of 2004. Gross profit margins improved to 26% in the second quarter, up from 22% in the selfsame quarter of last year. We again continued to strategically expand during the quarter, specifically in Jacksonville, Altoona and Charleston, providing IAA with a greater geographic grasp to accommodated the needs of our current and abeyant customers. Going forward we will abide to target advanced strategic opportunities that will further access our buyer base and advance our momentum of generating significantly higher returns.”

S-4 Filing: Insurance Auto Auctions again filed an S-4 today that provides supplemental financial advice to the results provided herein. Please consult to this document for supplementary financial advice about the Company and its quarterly results.

About Insurance Auto Auctions, Inc.: Insurance Auto Auctions, Inc., founded in 1982, a baton in automotive total loss and specialty rescue services in the United States, provides insurance companies with cost-able, turnkey solutions to action and sell total-loss and recovered-theft vehicles. The Company currently has 80 sites across the United States.

Supplementary advice about Insurance Auto Auctions is available on the Apple Wide Interlacing at:

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Originall posted January 7, 2012