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TULSA, Okla. - Dollar Thrifty Automotive Group Inc. said Wednesday it expects to post an adjusted pretax loss for the full year 2008 as a result of the weak economy and the ongoing problems in the automotive and airline industries.
| DTG | 1.53 |  -0.05 |
The company said it expects to post a fourth-quarter pretax loss "significantly in excess" of 2007's fourth-quarter loss, resulting in the loss for the full year.
Last year, the company posted a fourth-quarter loss of 88 cents per share.
Analysts polled by Thomson Reuters expect a fourth-quarter loss of 24 cents per share for the quarter and a loss of 63 cents per share for the year.
Dollar Thrifty said it expects vehicle rental revenue to be down 4 percent to 5 percent for the year, while vehicle depreciation costs on a per vehicle basis will be about 15 percent higher.
The company also said it plans to take a charge of about $4 million in the fourth quarter as a result of job cuts.
Dollar Thrifty shares jumped 31 cents, or 17.8 percent, to $2.05 in premarket trading.
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