FORT LAUDERDALE, Fla. -

AutoNation recently revealed its board of directors authorized the repurchase of up to an additional $250 million of the company’s common stock. 

Prior to the increased authorization, AutoNation determined it had utilized substantially all of the amounts previously authorized by its board of directors under its share repurchase program. 

AutoNation tabulated that it has approximately 124.6 million shares outstanding as of last Friday.

The company posted all-time records for both the full year and fourth quarter of 2011.

The company reported that adjusted earnings per share for the fourth quarter from continuing operations hit an all-time record at $0.51, up 13 percent year-over-year.

And for the fourth quarter, operating income came in at $144 million, an increase of 7 percent compared to the year-ago period. Total revenue was also up 13 percent year-over-year for the fourth quarter of 2011, coming in at $3.7 billion.

Moving on to highlight the full year results, adjusted earnings per share also hit an all-time high for this period.

Adjusted earnings per share from continuing operations sat at $1.94, up 24 percent compared to full year 2010 of $1.56.

For the full year, operating income came in at $572 million, an increase of 15 percent compared to 2010

And wrapping up the results, total revenue was up 11 percent year-over-year, totaling $13.8 billion.

Commenting on these results, company officials have high hopes for 2012.

Mike Jackson, chairman and chief executive officer, said, “We continued to deliver impressive results, setting another record for the highest ever annual and quarterly adjusted EPS from continuing operations. We are pleased with our strong year-over-year growth across all areas of our business.

“We are looking forward to the continued recovery in auto retail, buoyed by accelerated product offerings, robust consumer credit and strong replacement demand. We expect industry new vehicle sales to be approximately 14 million units in 2012,” he concluded.