Los Angeles Business Journal

General Finance Reports Higher Net Income

By Deborah Crowe Monday, September 9, 2013

General Finance Corp. on Monday reported better-than-expected fiscal fourth quarter revenue, but earnings per share missed Wall Street forecasts.

The Pasadena company, which sells and leases portable storage containers, portable container buildings, and freight containers in North America, Australia and New Zealand reported net income of $0.2 million (1 cent a share). That was 46 percent higher than a year earlier on a total basis, but unchanged on per-share basis because of a higher number of shares outstanding this year. Revenue rose 18 percent to $65 million.

The consensus of analysts surveyed by StockRatingsNetwork.com was for profit of 4 cents share on revenue of $62.5 million.

“We’re finding strength in all our container product lines and that’s where our growth has been,” Chief Executive Ronald Valenta said in a conference call with analysts.

Shares closed down 15 cents, or 3 percent, to $5 on the Nasdaq.