Textainer reports 4Q, full-year results

Feb. 16, 2009
Textainer Group Holdings Limited, lessor of intermodal containers, has reported results for the fourth quarter and year ended December 31, 2008.

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.

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