Textainer Group Holdings Limited, lessor of intermodal containers, has reported results for the fourth quarter and year ended December 31, 2008.
Total revenue for the quarter was $65.6 million, a decrease of $5.1 million, or 7%, compared with $70.6 million in the prior-year quarter primarily due to an $8.8 million, or 72%, decrease in trading container sales.
Net income for the quarter was $12.9 million, which was down $2.1 million, or 14%, versus $15.0 million in the prior year quarter.
Total revenues for the year ended December 31, 2008 rose by $21.3 million, or 8%, to $277.1 million compared with $255.8 million for the prior year.
Net income for the year ended December 31, 2008, was $85.2 million, a 26% gain over the $67.7 million for the year before.