Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

NOTE 14. QUARTERLY FINANCIAL INFORMATION (unaudited)

Quarterly financial information for each of the two years ended December 31, 2020 is summarized below:

(in thousands, except per share amounts)	2020
	First		Second		Third		Fourth		Year
Operations Data
Rental revenues	$	89,506	$	85,629	$	88,138	$	88,517	$	351,790
Total revenues		129,453		137,673		156,448		148,980		572,554
Gross profit		61,656		63,232		68,204		70,654		263,746
Income from operations		29,702		32,692		37,333		41,026		140,753
Income before provision for income taxes		26,614		30,625		35,495		39,310		132,044
Net income		20,159		22,549		28,101		31,175		101,984
Earnings per share:
Basic	$	0.83	$	0.93	$	1.17	$	1.29	$	4.22
Diluted	$	0.81	$	0.92	$	1.15	$	1.27	$	4.16
Dividends declared per share	$	0.420	$	0.420	$	0.420	$	0.420	$	1.68
Shares used in per share calculations:
Basic		24,292		24,121		24,097		24,119		24,157
Diluted		24,738		24,471		24,443		24,453		24,531
Balance Sheet Data
Rental equipment, net	$	975,709	$	969,681	$	948,125	$	938,116	$	938,116
Total assets		1,314,429		1,312,342		1,295,380		1,275,744		1,275,744
Notes payable		291,544		272,149		249,980		222,754		222,754
Shareholders’ equity		637,604		643,836		661,614		682,604		682,604
	2019
	First		Second		Third		Fourth		Year
Operations Data
Rental revenues	$	82,696	$	88,105	$	90,857	$	92,231	$	353,889
Total revenues		122,008		127,439		173,562		147,221		570,230
Gross profit		57,005		59,881		78,282		70,997		266,165
Income from operations		27,310		29,066		46,748		38,248		141,372
Income before provision for income taxes		24,251		25,965		43,455		35,454		129,125
Net income		18,449		19,488		32,468		26,401		96,806
Earnings per share:
Basic	$	0.76	$	0.80	$	1.34	$	1.09	$	3.99
Diluted	$	0.75	$	0.79	$	1.32	$	1.07	$	3.93
Dividends declared per share	$	0.375	$	0.375	$	0.375	$	0.375	$	1.50
Shares used in per share calculations:
Basic		24,195		24,246		24,268		24,290		24,250
Diluted		24,540		24,579		24,632		24,697		24,623
Balance Sheet Data
Rental equipment, net	$	912,878	$	943,152	$	958,610	$	967,500	$	967,500
Total assets		1,239,633		1,280,249		1,306,223		1,309,875		1,309,875
Notes payable		289,464		301,878		301,469		293,431		293,431
Shareholders’ equity		580,643		592,309		616,715		634,036		634,036