CARMEL, Ind. (AP) _ KAR Auction Services Inc. (KAR) on Tuesday reported fourth-quarter profit of $19.8 million.

On a per-share basis, the Carmel, Indiana-based company said it had net income of 15 cents. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The used and salvaged vehicle auctioneer posted revenue of $671.3 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $658.1 million.

For the year, the company reported profit of $188.5 million, or $1.42 per share. Revenue was reported as $2.78 billion.

KAR Auction Services expects full-year earnings in the range of $1.28 to $1.38 per share.

KAR Auction Services shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.17, a decrease of 59% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAR at https://www.zacks.com/ap/KAR

Automated Insights, source Associated Press News