Finally, the company’s views, estimates, plans and outlook as described within this call may change subsequent to this discussion. The company is under no obligation to modify or update [Technical Difficulty]
Ladies and gentlemen, please stand by, your conference call will resume momentarily. Again, ladies and gentlemen, please stand by, your conference call will resume momentarily. [Technical Difficulty]
And speakers you may resume.Philip K. BrewerHello, this is Phil Brewer. sorry, I’m not sure where the line dropped. I apologize for that interruption. So at the risk of boring anyone who may have been listening to the earlier part of the call, I will start again. Welcome to Textainer’s second quarter earnings conference call. Building under the sets of the first quarter, we continued to deliver excellent results during the second quarter.Total revenues of $120 million represent 14% increase over the same quarter in 2011. Adjusted net income of $44.7 million or $0.89 per diluted common share is an increase of 11% compared to the prior year quarter. Our annualized return on equity as of the quarter-end is 26% compared to an average of 23% since we went public in 2007. We believe this is especially impressive given both our low leverage and the low returns generated by most other asset classes over this time.Textainer declared a $0.42 per share dividend, an increase of 5% from the previous quarter. This represents our tenth consecutive increase in dividends, and continues our record of constant or increasing dividends every quarter since going public.Year-to-date we invested more than $760 million in new and used containers. Our fleet now exceeds 2.6 million TEU. Approximately 25% of our new container CapEx this year has been in reefers. We’ve ordered more than 17,000 TEU reefers already exceeding our total 2011 refer investments. We remain focused on growing our position in this very attractive market.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV