Acquisition Adds to H&E's Revenue

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H&E Equipment Services' (HEES Quote) Q3 FY08 revenue increased 3.0% to $278.65 million from $270.59 million when compared with the year-ago quarter. The latest quarter reflected three months results from the Burress Mid-Atlantic acquisition that added $38.80 million, compared to the prior year's quarter, which reflected only one month that added $10.10 million from the acquisition.

Looking at the company's business segments, equipment rentals revenue ascended 3.4% to $78.18 million from $75.60 million. The $2.60 million increase in total rental revenues is the net result of a $3.00 million increase in earthmoving equipment rentals, a $1.00 million increase in crane rentals, a $0.10 million increase in lift truck rentals and decreases in aerial work platform and other rentals of $1.30 million and $0.20 million, respectively. New equipment sales increased 3.3% to $97.80 million from $94.68 million led by the sales of new cranes and new lift trucks. Used equipment sales fell 10.4% to $39.87 million from $44.50 million a year ago due to a lower demand of used cranes, earth equipment. Parts sales revenues and services revenues increased 15.9% and 8.6% to $30.95 million and $18.33 million respectively due to an increase in customer demand. ...