Tulsa-Based Dollar Thrifty Expects Revenue For Rest Of Year To Be Flat

Monday, August 8th 2011, 9:54 am
By: News On 6

Russell Hulstine, NewsOn6.com

TULSA, Oklahoma -- Net income for Tulsa-based Dollar Thrifty in the second quarter rose to $42.5 million, from $42.3 million a year earlier. While net income was up slightly, revenue in the quarter fell to $395.1 million from $396.2 million.

Dollar Thrifty said it expects 2011 revenue to be flat with 2010 "if the rate environment continues to remain under pressure during the second half of 2011."

In a new release, the company is currently continuing to cooperate with Avis Budget Group, Inc. and Hertz Global Holdings, Inc. with respect to Federal Trade Commission review.

 Dollar Thrifty says it does not have an agreement, written or verbal, regarding merger terms, including price, with either Hertz or Avis Budget.

Earlier this month, Hertz announced that it has extended the expiration date of its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group.

7/18/2011 Related Story: Hertz Says It Is Still Working To Acquire Tulsa-Based Dollar Thrifty