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Non-Tech : Neff (NFF) -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (142)	7/30/1999 8:18:00 PM
From: jas cooper	Read Replies (1) \| Respond to of 183

Due to good earnings and more rumblings about selling company. Neff Corp. Announces Record Second Quarter Operating Results Business Wire - July 30, 1999 12:25 MIAMI--(BUSINESS WIRE)--July 30, 1999--Neff Corp. (NYSE:NFF), announced today its results from operations for the second quarter and six months ended June 30, 1999. The Company reported a 39.7% increase in revenues to $103.1 million for the second quarter of 1999, compared to $73.8 million for the same quarter last year. For the six months ended June 30, 1999, the Company reported a 43.6% increase in revenues to $194.7 million, compared to $135.6 million for the same period last year. Net income for the second quarter of 1999 was $4.2 million or $0.19 per diluted common share, compared to a net loss of $3.9 million or $(0.39) per diluted common share for the same quarter of 1998. The reported net loss for the same period in 1998 included an extraordinary loss of $2.7 million or $(0.15) per diluted common share and was related to the write off of debt issue costs. For the six months ended June 30, 1999, the Company reported net income of $4.9 million, or $0.22 per diluted common share, compared to a net loss of $5.8 million, or $(0.83) per diluted common share, for the six months ended June 30, 1998. The Company reported that earnings before interest, income taxes, depreciation and amortization ("EBITDA"), increased 52.5% for the second quarter of 1999 to $34 million from $22.3 million for the same period last year. EBITDA increased 45.6% for the six months ended June 30, 1999 to $60.7 million from $41.7 million in the same period last year. Mr. Kevin P. Fitzgerald, President and Chief Executive Officer, stated: "We are very pleased with our record second quarter results, which showed significant revenue and net profit improvement over our second quarter of last year." Mr. Fitzgerald further added: "As previously announced, the Company and Donaldson, Lufkin & Jenrette are continuing to work together to evaluate strategic alternatives such as a sale of all or part of the Company, a spin-off or a recapitalization. This process is nearing completion and we look forward to announcing its results shortly." Neff Corp. is one of the largest and fastest growing equipment rental companies in the United States, with 94 locations in 18 states and South America.