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  September 5, 2001
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Home > Company Index > Diversified Services > Miscellaneous Business Services > Insurance Auto Auctions, Inc.

Insurance Auto Auctions, Inc.
Nasdaq: IAAI
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 PROFILE
There's no such thing as a "totaled" car for Insurance Auto Auctions (IAA). The company is a leading US auto salvage company that auctions off cars declared a total loss for insurance purposes; it auctions either whole vehicles or, if they can't be fixed, just the parts. IAA has 58 auction sites in 24 states. It primarily sells on consignment or buys the cars outright, negotiating salvage contracts with major insurers, but it is trying to transition more of its business to a percentage of sale basis, in which its salvage clients (including State Farm, Farmers Insurance, and Allstate) get a percentage of the auction sale price. Wallace R. Weitz and ValueAct Capital Partners each own about 16% of the company.

 COMPETITION
ALLETE, Inc. (ALE)
Copart, Inc. (CPRT)
Ritchie Bros. Auctioneers Incorporated (RBA)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 200.90
1-Yr. Sales Growth: (36.7)%
Employees: 863
Revenue per employee: $232,792.58

 KEY PEOPLE
• Thomas C. O'Brien
    CEO
• Scott P. Pettit
    CFO

 CONTACT INFO
850 E. Algonquin Rd., Ste. 100
Schaumburg, IL 60173
US
Phone: 847-839-3939
Fax: 847-839-3678
Online: Web Site

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