Textainer’s adjusted net income benefited from higher revenue from an increase in the size of the owned container fleet, offset by an increase in interest expense due to an increase in debt required to fund the expansion of our owned fleet and increased depreciation expense due to our record level of capex and higher new container prices, which have averaged almost $2,400 per CEU in 2012. During the third quarters of 2012 and 2011, the Company released liabilities for unrecognized tax benefits and recognized tax provision reductions of $3.0 million and $3.2 million, respectively.During the quarter, Textainer completed a follow-on equity offering of 8,625,000 of its common shares at a price of $31.50 per share. The Company sold 6,125,000 new common shares and our largest shareholder, Halco Holdings Inc., sold 2,500,000 of its existing common shares. The Company received $185.2 million and Halco Holdings Inc. received $75.6 million, in each case net of underwriting discount and before expenses.
Textainer Group Holdings Limited Reports Third-Quarter 2012 Results And Increases Quarterly Dividend
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