This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TAL International Group, Inc. Reports Third Quarter 2012 Results And Declares $0.62 Quarterly Dividend

“While our performance remains strong, our adjusted pretax income decreased 5% this quarter from the third quarter of 2011 despite the 12% increase in our leasing revenue. Utilization and used container sale prices remain high relative to long-term average levels, but they have both decreased from the exceptional levels reached last year. Average utilization dropped by about 1% from the third quarter of last year and used container sales prices are down roughly 20% from the record level reached in the summer of 2011. This decrease in our utilization and disposal gains reduced our adjusted pretax income by about $5 million from the third quarter of 2011. Changing fleet demographics also negatively impacted our income this quarter. Our depreciation expense has been increasing as a portion of our leasing revenue since 2010 as the portion of fully depreciated units in our fleet has dropped from over 20% of our containers at the beginning of 2010 to 6.5% of our container fleet today. Mainly because of this, our depreciation expense in the third quarter of 2012 increased by $5 million more than it would have if the ratio of our depreciation expense to leasing revenue remained constant at the level experienced in the third quarter of 2011. It is important to note, however, that this increase in depreciation expense does not impact our operating cash flow.”

“Our adjusted pretax income also decreased 4.4% from the second quarter of 2012. Our results in the second quarter included over $3 million of one-time fees associated with a negotiated early lease termination. We had anticipated that container pick-ups and higher used container disposal volumes during the third quarter would more than off-set the impact of the absence of these fees. But while we had a strong third quarter for pick-ups and disposals, they were both slightly below our expectations and we were unable to fully make up for the absence of the fee income this quarter. Still, TAL generated $1.48 per share of adjusted pretax income in the third quarter of 2012, we continued to earn attractive returns on our assets and equity, and our market environment remains favorable.”

3 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs