ADESA Winnipeg has been named for the second consecutive year the National Auto Auction Association’s 2017 Eastern Chapter Auto Auction of the Year for its outstanding public service.
The Manitoba, Canada, business was chosen for its tireless volunteer efforts that includes employees planning, piloting and participating in more than 55 events to raise over $3.5 million for a variety of regional causes.
The auction will be one of four finalists representing NAAA’s Eastern, Midwest, Southern and Western chapters competing for the top honor of NAAA’s “Auto Auction of the Year Award for Excellence in Community Service.” Each of the contenders will be recognized at the association’s annual convention in November with a crystal trophy. They will also get a photo in NAAA’s member publications and $5,000 payable to a charity of the auction’s choice.
KAR Auction Services Inc. reported revenue of $858 million as compared with revenue of $788.5 million for the second quarter of 2016.
Net income for the second quarter decreased to $57.2 million, as compared with net income of $61.8 million in the second quarter of 2016. Net income for the quarter was negatively impacted by $17.3 million resulting from the company's refinancing activities.
Adjusted EBITDA for the quarter increased to $223.5 million, as compared with adjusted EBITDA of $197.1 million for the second quarter of 2016.