This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Essex Rental Corp. Reports 2011 Second Quarter Results

Stocks in this article: ESSX

Essex Rental Corp. (Nasdaq: ESSX) ("Essex") today announced its unaudited consolidated results for the second quarter ended June 30, 2011. The results are those of Essex Rental Corp. and its wholly owned subsidiaries, including Essex Crane Rental Corp. ("Essex Crane"), Essex Finance Corp. (“Essex Finance”), Coast Crane Company (formerly known as CC Bidding Corp.) and Coast Crane Ltd. (“Coast Crane Ltd.”). References in this release to “Coast Crane” refer to the combined results of Coast Crane Company and its wholly owned subsidiary, Coast Crane Ltd., which were acquired on November 24, 2010. Included below is a comparison of Essex's results of operations for the quarter ended June 30, 2011 to the corresponding results for the quarter ended June 30, 2010. Many of the explanations provided below relate to the impact of Coast Crane.

Management Comments on Second Quarter 2011

Ron Schad, President & CEO of Essex, stated, “Essex continues to experience steady growth and stability in its three business segments: equipment rentals, equipment distribution, and parts and service. With the exception of our crawler crane fleet, we experienced increases in utilization rates during the second quarter ended June 30, 2011 for all of the categories of equipment that we rent. Crawler cranes experienced a slight decline in utilization due to the conclusion of certain levee projects. Excluding these levee-related crawler cranes, we have continued to see a steady increase in utilization on a comparable quarter and year to date basis for this asset category. Specifically, since June 30, 2010 and December 31, 2010, the number of crawler cranes on rent excluding those on levee related projects has increased by 5.3% and 7.5%, respectively.”

He continued, “Overall, we are pleased with the business trends that we are seeing at Coast Crane. The Coast Crane acquisition has enabled us to diversify our earnings and is presenting us with a number of meaningful growth opportunities. The steady increase in rental equipment utilization rates, combined with accelerated revenues in our equipment distribution segment and the predictability of our parts and service segment, provides Essex with a balanced business portfolio that is well positioned for growth as our end markets continue to recover.”

1 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs