CARMEL, Ind. (AP) _ KAR Auction Services Inc. (KAR) on Tuesday reported second-quarter net income of $11.5 million, after reporting a loss in the same period a year earlier.

The Carmel, Indiana-based company said it had net income of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The used and salvaged vehicle auctioneer posted revenue of $585.4 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $596.8 million.

KAR Auction Services expects full-year earnings to be 87 cents per share.

KAR Auction Services shares have dropped almost 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.81, a rise of 11% 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

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