Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, announced record vehicle returns during the third quarter. These results were driven by increased buying activity as a result of IAA’s live auctions with Internet bidding.
The company recorded revenues for the quarter of $68.1 million compared to $60.8 million in the third quarter of 2004. Fee income in the third quarter increased to $58.1 million versus $53.3 million in the third quarter of last year.
Insurance Auto Auctions Inc., based in Westchester, Ill., a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with turnkey solutions to process and sell total-loss and recovered-theft vehicles. The company currently has 80 sites across the United States.