Zipcar Q4 More than Triples

Zipcar (UNKNOWN: ZIP.DL2  ) has reported its Q4 and 2012 results. For the quarter, the company's revenue grew by 12% on a year-over-year basis, to $71 million. Its GAAP net profit came in at $13.8 million ($0.34 per diluted share), a more than threefold improvement over Q4 2011's $3.9 million ($0.09).

On average, analysts were expecting EPS of only $0.06.  

For the full year, top line came in at $279 million, which bettered 2011's $242 million. Net profit was $14.2 million ($0.35 diluted EPS), against a loss of $7.2 million ($0.24) in the previous year.

Zipcar is soon to be acquired by rental car giant Avis Budget Group (NASDAQ: CAR  ) , pending Zipcar shareholder approval and review by certain regulatory bodies, in a cash transaction worth $12.25 per share. The deal is expected to close in March or April.


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