Tulsa-Based Dollar Thrifty Reports Record Profit

NewsOn6.com

TULSA, OK -- Good news for Tulsa-based Dollar Thrifty Automotive Group on Wednesday. 

The car rental company posted a fourth quarter profit of $11.3 million compared to a loss of $72.2 million in the fourth quarter of 2008. 

"We are all proud of the Company's dramatic financial turnaround that is clearly demonstrated in our operating results for the quarter and full year.  The Company realized a $69.6 million year-over-year improvement in Corporate Adjusted EBITDA for the fourth quarter.  Additionally, we also are reporting our fourth consecutive quarter of year-over-year improvement in financial performance while operating in the challenging economy of 2009," said Scott L. Thompson, President and Chief Executive Officer.

The news has Dollar Thrifty Automotive Group shares trading higher on Wall Street.  As of 12:30 p.m. Wednesday, shares were trading at a 52 week high of $29.85 per share.

Read the company's news release.