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Textainer Group Holdings Limited Reports Record Fourth-Quarter And Full-Year 2011 Results And Increases Quarterly Dividend

Stocks in this article: TGH

Textainer Group Holdings Limited (NYSE:TGH), the world’s largest lessor of intermodal containers based on fleet size, today reported results for the fourth quarter and full year ended December 31, 2011. “Our fourth quarter closed out a record year for Textainer by every meaningful performance measure, including total revenues, profitability, utilization and fleet size,” said Philip K. Brewer, President and Chief Executive Officer of Textainer. “We also significantly increased our capital expenditures to $904 million, purchasing 448,000 TEU of containers positioning the Company for further success in 2012.”

Key Financial Information (in thousands except for per share and TEU amounts):

    Q4 2011   Q4 2010   Full-year 2011   Full-year 2010
Total revenues   $ 116,377     $ 83,999     $ 422,796     $ 303,879  

Net incomeattributable toTextainer GroupHoldings Limitedcommonshareholders














Net incomeattributable toTextainer GroupHoldings Limitedcommonshareholders perdiluted commonshare






























Adjusted netincome(1)














Adjusted netincome perdiluted commonshare(1)





























EBITDA(1)   $ 89,213     $ 65,300     $ 332,212     $ 218,995  

Average fleetutilization













Total fleet size atend of period (TEU)









Ownedpercentage oftotal fleet at endof period

















“Adjusted net income” and “EBITDA” are Non-GAAP Measures that are reconciled to GAAP measures in footnote 1. “Adjusted net income” is defined as net income attributable to Textainer Group Holdings Limited common shareholders before unrealized losses on interest rate swaps, net, and gain on sale of containers to noncontrolling interest (“NCI”) and related impact of reconciling items on net income attributable to the NCI. “EBITDA” is defined as net income attributable to Textainer Group Holdings Limited common shareholders before interest income and interest expense, realized and unrealized losses on interest rate swaps and caps, net, income tax expense, net income attributable to the NCI, depreciation and amortization expense, and gain on sale of containers to NCI and related impact of reconciling items on net income attributable to the NCI. Footnote 1 provides certain qualifications and limitations on the use of Non-GAAP Measures.

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