Quarterly Financial Information

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

NOTE 11. QUARTERLY FINANCIAL INFORMATION (unaudited)

Quarterly financial information for each of the two years ended December 31, 2017 is summarized below:

(in thousands, except per share amounts)	2017
	First		Second		Third		Fourth		Year
Operations Data
Rental revenues	$	67,978	$	69,953	$	73,781	$	77,705	$	289,417
Total revenues		94,837		109,582		135,388		122,227		462,034
Gross profit		43,670		49,211		58,775		54,689		206,345
Income from operations		15,822		21,846		30,286		26,786		94,740
Income before (benefit) provision for income taxes		13,259		18,908		27,336		23,949		83,452
Net income		7,973		11,461		16,762		117,724		153,920
Earnings per share:
Basic	$	0.33	$	0.48	$	0.70	$	4.90	$	6.41
Diluted	$	0.33	$	0.48	$	0.69	$	4.82	$	6.34
Dividends declared per share	$	0.260	$	0.260	$	0.260	$	0.260	$	1.04
Shares used in per share calculations:
Basic		23,950		23,985		24,015		24,044		23,999
Diluted		24,232		24,092		24,228		24,410		24,269
Balance Sheet Data
Rental equipment, net	$	856,981	$	863,207	$	865,724	$	862,320	$	862,320
Total assets		1,130,734		1,150,123		1,156,415		1,147,854		1,147,854
Notes payable		323,483		330,287		323,117		303,414		303,414
Shareholders’ equity		396,625		402,365		412,782		524,184		524,184
	2016
	First		Second		Third		Fourth		Year
Operations Data
Rental revenues	$	66,532	$	66,747	$	67,757	$	70,352	$	271,388
Total revenues		93,699		103,105		121,993		105,283		424,080
Gross profit		40,655		43,756		50,433		49,323		184,167
Income from operations		14,258		18,073		24,232		22,696		79,259
Income before provision for income taxes		10,853		15,006		21,277		19,795		66,931
Net income		6,566		9,079		12,872		9,734		38,251
Earnings per share:
Basic	$	0.28	$	0.38	$	0.54	$	0.41	$	1.60
Diluted	$	0.27	$	0.38	$	0.54	$	0.40	$	1.60
Dividends declared per share	$	0.255	$	0.255	$	0.255	$	0.255	$	1.02
Shares used in per share calculations:
Basic		23,862		23,900		23,911		23,927		23,900
Diluted		23,911		23,949		24,041		24,123		23,976
Balance Sheet Data
Rental equipment, net	$	867,215	$	868,422	$	862,528	$	856,371	$	856,371
Total assets		1,132,355		1,148,018		1,144,923		1,128,276		1,128,276
Notes payable		365,772		363,121		345,286		326,266		326,266
Shareholders’ equity		380,512		383,313		390,600		394,287		394,287