Mr. Kwok concluded, “Based on SeaCube’s strong and stable results, the Board increased the dividend for the fifth time since going public. SeaCube has now increased its dividend 45% since October 2010 for a cumulative payout of $1.95 per share.”
Adjusted net income
was $25.8 million for the six months ended June 30, 2012 compared to $19.6 million for the six months ended June 30, 2011, an increase of 31%. For the six months ended June 30, 2012, adjusted net income per diluted common share was $1.27.
Total revenue was $98.5 million for the six months ended June 30, 2012 compared to $77.6 million for the six months ended June 30, 2011, an increase of 27%. Adjusted EBITDA
was $141.5 million for the six months ended June 30, 2012 compared to $113.6 million for the six months ended June 30, 2011.
The Company reported net income of $23.2 million for the six months ended June 30, 2012 compared to $18.4 million for the six months ended June 30, 2011. Net income per diluted common share was $1.14 for the six months ended June 30, 2012 compared to $0.91 for the six months ended June 30, 2011.
On August 6, 2012, the Company’s Board of Directors approved and declared a $0.29 per share cash dividend on its issued and outstanding common shares, payable on September 14, 2012 to shareholders of record at the close of business on September 7, 2012.
Investors' Conference Call
In connection with this earnings release, management will host an earnings conference call and webcast on Tuesday, August 7, 2012 at 10:00 a.m. Eastern time. The live conference call may be accessed by dialing 1-866-347-8894 (from within the U.S.) or 1-706-643-5328 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference "SeaCube Second Quarter Earnings Call." A simultaneous webcast of the conference call with an accompanying slide presentation will be available to the public at
. A telephonic replay of the conference call will also be available until 11:59 p.m. on Friday, August 17, 2012 by dialing 1-855-859-2056 (from within the U.S.) or 1-404-537-3406 (from outside of the U.S.); please reference access code "13517687."
About SeaCube Container Leasing Ltd.
SeaCube Container Leasing Ltd. is one of the world’s largest container leasing companies based on total assets. Containers are the primary means by which products are shipped internationally because they facilitate the secure and efficient movement of goods via multiple transportation modes, including ships, rail and trucks. The principal activities of our business include the acquisition, leasing, re-leasing and subsequent sale of refrigerated and dry containers and generator sets. We lease our containers primarily under long-term contracts to a diverse group of the world’s leading shipping lines. As of June 30, 2012, we employed 77 people in seven offices worldwide and had total assets of $1.6 billion. We own or manage a fleet of 585,239 units, representing 919,975 TEUs of containers and generator sets.