Average fleet utilization increased slightly from 94.2% in the first quarter of 2012 to 94.3% in the second quarter of 2012. Based on customer bookings already in place for available assets, it is expected that utilization will improve further during the third quarter.During the quarter, CAI completed the purchase of approximately 1,200 used railcars. The total purchase price of $40.6 million was funded primarily by the Company’s $85 million revolving credit facility that was entered into during the quarter. All railcars purchased during the quarter are on lease and are expected to positively impact CAI’s revenue in the third quarter.
CAI International, Inc. Reports Record Results For The Second Quarter Of 2012 – Revenue Increases 38%, EPS Increases 40% Vs Second Quarter 2011
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