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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

H&E Equipment Services Reports Fourth Quarter 2012 Results

Gross margin on new equipment sales was 11.2% compared to 10.0% in the fourth quarter a year ago. Gross margin on used equipment sales was 30.2% compared to 25.9% a year ago. Gross margin on parts sales was 27.4% in this quarter and 27.0% a year ago. Gross margin on service revenues was 59.4% compared to 60.2% in the prior year.

Rental Fleet

At the end of the fourth quarter of 2012, the original acquisition cost of the Company’s rental fleet was $883.0 million, an increase of $146.4 million from $736.6 million at the end of 2011. Dollar utilization was 36.4% compared to 33.9% for the fourth quarter of 2011. Dollar returns increased reflecting higher year-over-year average rental rates.

Selling, General and Administrative Expenses

SG&A expenses for the fourth quarter of 2012 were $45.1 million compared with $38.7 million last year, a $6.4 million, or 16.7%, increase. The net increase in SG&A expenses is largely a result of increased commission and incentive pay that resulted from higher rental and sales revenues. For the fourth quarter of 2012, SG&A expenses as a percentage of total revenues were 18.1% compared to 17.8% a year ago.

Income from Operations

Income from operations for the fourth quarter of 2012 was $28.5 million, or 11.4% of revenues, compared with $17.7 million, or 8.1% of revenues, a year ago.

Interest Expense

Interest expense for the fourth quarter of 2012 was $11.9 million compared to $7.1 million in the fourth quarter of 2011.

Net Income

Net income was $10.7 million, or $0.31 per diluted share, compared to net income of $7.9 million, or $0.23 per diluted share, a year ago. The effective income tax rate was 36.1% compared to 26.0% a year ago.

Stock quotes in this article: HEES 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs