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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue:        
Container rental revenue $ 24,711 $ 13,974 $ 47,096 $ 26,318
Management fee revenue 3,275 2,536 6,790 4,717
Gain on sale of container portfolios 253 348 1,663 614
Finance lease income 520 505 952 907
Total revenue 28,759 17,363 56,501 32,556
Operating expenses:        
Depreciation of container rental equipment 7,436 4,471 14,172 8,678
Amortization of intangible assets 343 341 686 695
Impairment of container rental equipment 5 11 10 28
Gain on disposition of used container equipment (2,785) (2,498) (6,400) (3,918)
Storage, handling and other expenses 1,360 1,763 2,455 3,954
Marketing, general and administrative expenses 5,517 5,527 10,119 10,476
(Gain) loss on foreign exchange (37) 230 23 411
Total operating expenses 11,839 9,845 21,065 20,324
Operating income 16,920 7,518 35,436 12,232
Interest expense 3,529 963 6,503 1,820
Interest income (1) (88) (4) (120)
Net interest expense 3,528 875 6,499 1,700
Net income before income taxes and non-controlling interest 13,392 6,643 28,937 10,532
Income tax expense 2,301 967 4,851 1,807
Net income 11,091 5,676 24,086 8,725
Net income attributable to non-controlling interest (211) 0 (410) 0
Net income attributable to CAI common stockholders $ 10,880 $ 5,676 $ 23,676 $ 8,725
Net income per share attributable to CAI common stockholders:        
Basic (in dollars per share) $ 0.56 $ 0.32 $ 1.23 $ 0.49
Diluted (in dollars per share) $ 0.55 $ 0.31 $ 1.20 $ 0.48
Weighted average shares outstanding:        
Basic (in shares) 19,295 17,910 19,295 17,908
Diluted (in shares) 19,798 18,141 19,779 18,098