UHAL - these guys amaze me. How can they be growing revenues with the huge slowdown in RE? I don't think they can fabricate revenues.
biz.yahoo.com
AMERCO Reports Third Quarter Fiscal 2008 Financial Results
Wednesday February 6, 5:23 pm ET
RENO, Nev., Feb. 6, 2008 (PRIME NEWSWIRE) -- AMERCO (NasdaqGS:UHAL - News), parent of U-Haul International, Inc., North America's largest do-it-yourself moving and storage operator, today reported a net loss for its third quarter ending December 31, 2007, of $13.6 million, or $0.69 per share, compared with a net loss of $12.7 million, or $0.61 per share, for the same period last year.
ADVERTISEMENT
For the nine-month period ending December 31, 2007, net earnings available to common shareholders were $72.1 million, or $3.64 per share, compared with net earnings of $96.7 million, or $4.62 per share for the same period last year. Included in the results for December 31, 2006, was a nonrecurring after-tax charge of $0.20 per share associated with the Company's second- quarter debt amendment. Taking into account the nonrecurring charge, the adjusted earnings per share were $4.82 for the nine months ending December 31, 2006.
``While we recorded a modest increase in U-Move revenue for the quarter, we remain lower for the first nine months of our fiscal year,'' stated Joe Shoen, chairman of AMERCO. ``The fourth quarter is developing in line with the most recent analyst's estimate. As always in the fourth quarter, bad weather can significantly offset income, most of which comes right off of the bottom line.''
Highlights of Third-Quarter 2008 Results
* Self-moving equipment rentals increased $1.8 million for the third
quarter of fiscal 2008 compared with the third quarter of fiscal
2007. The Company continues to face challenges increasing
transactions and improving revenue per transactions.
`BC |
