DealerTrack (TRAK) made a sharp cut to its financial forecast for the balance of the year. The firm also said its second-quarter profit fell 51 percent to $3.06 million, or $.07 per share, in the quarter ending June 30.
Mark O’Neil, DealerTrack’s CEO is doing just fine. Actually, he is doing remarkably well.
According to the DealerTrack proxy, O’Neil made almost $2.9 million in total compensation last year including a $510,000 salary. This year, his salary moved up to $525,000.
Including the likely drop of 15% at today’s open, the company’s shares will be off over 70% for over the last twelve months..
Douglas A. McIntyre