FMS Client Triples Initial Contract and Penske earns $18.7 Million in 4Q as Sales Rise

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City of Industry, CA --(www.USEquityNews.com)-- 02/25/2010 - Automotive Retail industry alert provided by U.S. Equity News. Fleet Management Solutions Inc. (Pinksheets:FLMG) ("FMS" or "the Company") is pleased to announce that one of its client companies, ATE Rent S.A. of Athens, Greece, which specializes in the operation of leasing passenger cars, has increased the size of its initial contract with FMS by over 200% in just over 5 months. The initial contract between FMS and ATE Rent S.A., a Greece-based financial institution, was signed in August 2009 for the after sales servicing and management of its fleet of 225 vehicles. Following the success of the initial contract, ATE Rent S.A. has amended the contract to include an additional 452 leased vehicles for a total fleet of 677. As part of the agreement, FMS provides full management of the fleet including accident and breakdown repairs, the provision of replacement vehicles, and regular and scheduled maintenance. The total value of the contract is expected to exceed US$800,000.


For more information visit: http://www.smallcapvoice.com/flmg/factsheet.html

Penske Automotive Group Inc. said Friday it earned $18.7 million in the fourth quarter, recovering from a year-ago loss, on a combination of higher sales, a strong performance in the United Kingdom and cost-cutting. Chairman Roger Penske said the automotive retailer's premium and luxury segment performed especially well. He said retail revenue rose 18.2 percent including growth of 8.6 percent in the United States and 38.7 percent in the United Kingdom. For the three months that ended Dec. 31, Penske Automotive earned 20 cents per share. That compares to a loss of $511.9 million, or $5.59 per share a year earlier when charges weighed on its results. Overall revenue rose 13.4 percent to $2.4 billion from $2.15 billion a year ago.

AutoNation, Inc. (NYSE:AN), America's largest automotive retailer, today announced that its Board of Directors appointedMichael Larson and Robert J. Brown as independent directors effective February 24, 2010. These appointments expand the Board to ten members. "We are very pleased to have Michael Larson join the AutoNation Board," said Mike Jackson, AutoNation Chairman and Chief Executive Officer. "Michael brings a wealth of investment and business experience that complements the expertise of our other Board members."

America's Car-Mart, Inc. (Nasdaq: CRMT) today announced its operating results for the third fiscal quarter ended January 31, 2010. On February 24, 2010, The Company's Board of Directors authorized the repurchase of up to 1 million shares of its common stock under the common stock repurchase program which was last amended and approved on December 2, 2005. Since December 2, 2005, the Company has repurchased over 477,000 shares of its common stock under this program.

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