Dollar Thrifty: 4Q, '09 results to top last year

AP News
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Posted: Dec 09, 2009 11:55 AM

Dollar Thrifty Automotive Group Inc., a car rental company, said Wednesday it expects its fourth-quarter and 2009 earnings before interest, taxes, depreciation and amortization would be in positive territory after losses posted in both periods last year.

The company, based in Tulsa, Okla., expects fourth-quarter adjusted EBITDA to be in a range of $10 million to $15 million, compared with a loss of $43.4 million in the fourth quarter of 2008.

Dollar Thrifty said 2009 adjusted EBITDA would be in a range of $83 million to $88 million, compared with a loss of $2.3 million in 2008.

The company also confirmed its guidance of an 8 percent to 10 percent decline in 2009 rental revenues.

Shares fell 4 cents to $21.65 in late morning trading.