LKQ Corp. has released the results for its financial performance in the fourth quarter and full year of 2016. Net income in the fourth quarter has decreased 9.2% with $86.6 million in contrast to 2015 where the company made $95.1 million. However, net income for the full year has increased 9.6% with $464.0 million, an improvement from the 2015 report of 423.2 million. Moreover, LKQ reported its annual revenue growth of 19.3% to $8.58 billion.
Additionally, LKQ reported that OEM glass manufacturing, which has been sold to Vitro S.A.B, generated $173 million and $498 million in the fourth quarter and full year of 2016. LKQ also announced that it has acquired a distributor of aftermarket automotive related products in the Netherlands.
“On December 19, 2016, we announced the pending sale of our OEM glass manufacturing business to a subsidiary of Vitro S.A.B. de C.V.,” stated the report. “The results of our OEM glass manufacturing business are reported in discontinued operations for 2016. Although these amounts are not reflected in the continuing operations results, for the fourth quarter and full year of 2016, the OEM glass manufacturing business generated $173 million and $498 million of revenue, respectively.