TAL International Group, Inc. Reports Second Quarter 2012 Results And Increases Quarterly Dividend To $0.60

TAL International Group, Inc. (NYSE: TAL), one of the world’s largest lessors of intermodal freight containers and chassis, today reported results for the second quarter ended June 30, 2012.
Highlights:
TAL reported Adjusted pre-tax income of $1.54 per fully diluted share for the second quarter of 2012, an increase of 0.7% from the second quarter of 2011.
TAL reported leasing revenues of $127.9 million for the second quarter of 2012, an increase of 20.1% from the second quarter of 2011.
TAL reported Adjusted EBITDA of $135.7 million for the second quarter of 2012, an increase of 11.4% from the second quarter of 2011.
TAL continues to invest aggressively in its business. Year to date, TAL has invested roughly $750 million in new container purchases and sale-leaseback transactions.

TAL announced a $0.02 increase in its quarterly dividend to $0.60 per share payable on September 25, 2012 to shareholders of record as of September 4, 2012.

Adjusted pre-tax income (1), excluding gains and losses on interest rate swaps, was $51.9 million for the second quarter of 2012, compared to $51.0 million for the second quarter of 2011. Adjusted pre-tax income per fully diluted common share was $1.54 for the second quarter of 2012, compared to $1.53 for the second quarter of 2011. The Company focuses on Adjusted pre-tax results since it considers gains and losses on interest rate swaps to be unrelated to operating performance and since it does not expect to pay any significant income taxes for a number of years due to the availability of accelerated tax depreciation on its existing container fleet and anticipated future equipment purchases.

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