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TAL International Group, Inc. Reports First Quarter 2012 Results And Declares $0.58 Quarterly Dividend

Stocks in this article: TAL

TAL International Group, Inc. (NYSE: TAL), one of the world’s largest lessors of intermodal freight containers and chassis, today reported results for the first quarter ended March 31, 2012.


  • TAL reported Adjusted pre-tax income of $1.43 per fully diluted share for the first quarter of 2012, an increase of 4.4% from the first quarter of 2011.
  • TAL reported leasing revenues of $123.2 million for the first quarter of 2012, an increase of 23.7% from the first quarter of 2011.
  • TAL reported Adjusted EBITDA of $128.4 million for the first quarter of 2012, an increase of 20.5 % from the first quarter of 2011.
  • TAL continues to invest aggressively in its business. Year to date, TAL has invested over $450 million in new container purchases and sale-leaseback transactions.
  • TAL announced a quarterly dividend of $0.58 per share payable on June 22, 2012 to shareholders of record as of June 1, 2012.

Adjusted pre-tax income (1), excluding gains and losses on interest rate swaps, was $48.0 million in the first quarter of 2012, compared to $42.4 million in the first quarter of 2011. Adjusted pre-tax income per fully diluted common share was $1.43 in the first quarter of 2012 compared to $1.37 in the first quarter of 2011. The Company focuses on adjusted pre-tax results since it considers gains and losses on interest rate swaps to be unrelated to operating performance and since it does not expect to pay any significant income taxes for a number of years due to the availability of accelerated tax depreciation on its existing container fleet and anticipated future equipment purchases.

Leasing revenues for the first quarter of 2012 were $123.2 million compared to $99.6 million in the first quarter of 2011. Adjusted EBITDA (2), including principal payments on finance leases, was $128.4 million for the first quarter of 2012 compared to $106.6 million in the first quarter of 2011.

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