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

Reported net income for the nine months ended September 30, 2012 was $93.4 million compared to $73.9 million for the same period in 2011. Net income per fully diluted common share was $2.78 for the nine months ended September 30, 2012 compared to $2.27 for the same period in 2011.

Outlook

Mr. Sondey continued, “We generally expect strong market conditions to continue for the rest of this year and into 2013. Expectations for trade growth in 2012 have dropped from the beginning of the year, and the summer peak season for dry containers ended unusually early this year – leading to slower than expected pick-ups of containers committed to lease. But trade growth will remain solidly positive for the year and we expect the supply / demand balance for containers to remain tight into 2013. TAL and other major leasing companies have continued to generate very high levels of investment in 2012, but shipping line investment has been exceptionally low, and we estimate that overall market production of new containers will be significantly lower this year than in 2011. Because of this, we believe that the growth in the global container fleet will closely match global trade growth this year, implying that tight market conditions are likely to continue.”

“For the fourth quarter, we expect continued sequential growth in our leasing revenue as we benefit from a full quarter of revenue from third quarter pick-ups, and as our customers complete the pick-up of containers that were committed to lease earlier in the year. However, we expect our utilization and used container sale prices to continue to normalize, especially now that the peak season for dry containers has passed. Overall, we expect our adjusted pretax income to hold steady or decrease slightly from the third quarter to the fourth quarter of 2012.”

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