PLM shows revenue, profit improvement

Calif.-based PLM International, which sold its trailer leasing business last year, saw its second quarter and six-month revenues and income improve over last year’s numbers. The company still manages a portfolio of over $500 million (based on original equipment cost) of transportation and related equipment for approximately 60,000 third-party investors. For the second quarter of 2001, PLM’s consolidated

Calif.-based PLM International, which sold its trailer leasing business last year, saw its second quarter and six-month revenues and income improve over last year’s numbers. The company still manages a portfolio of over $500 million (based on original equipment cost) of transportation and related equipment for approximately 60,000 third-party investors.

For the second quarter of 2001, PLM’s consolidated revenues topped $2.2 million, up from $2.1 million for the same period in 2000. Operating income rose to $300,000, compared to $13,000 in the second quarter of 2000. Net income from continuing operations totaled $300,000 for the second quarter of 2001 vs. a loss of $17,000 for the same period in 2000.

The company’s commercial and industrial equipment and trailer leasing subsidiaries were sold in 2000 and are accounted for as discontinued operations and prior periods have been restated. For the second quarter of 2000, discontinued operations produced net income of $600,000.

Consolidated revenues from continuing operations, during the first six months of 2001, totaled $5.3 million compared to $4.6 million in the same period of 2000. Operating income was $900,000 compared to $500,000 in the same period of 2000. Net income from continuing operations totaled $600,000 versus $100,000 for the first six months of 2000. For the first six months of 2000, discontinued operations resulted in net income of $500,000.

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