Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

Quarterly financial information for each of the two years ended December 31, 2019 is summarized below:

(in thousands, except per share amounts)	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
	2018
	First		Second		Third		Fourth		Year
Operations Data
Rental revenues	$	74,261	$	77,267	$	82,155	$	85,091	$	318,774
Total revenues		105,085		116,983		143,147		133,115		498,330
Gross profit		50,170		53,928		64,050		65,103		233,251
Income from operations		22,042		24,449		35,824		35,166		117,481
Income before provision for income taxes		19,018		21,106		32,553		32,018		104,695
Net income		14,466		15,912		24,779		24,249		79,406
Earnings per share:
Basic	$	0.60	$	0.66	$	1.03	$	1.00	$	3.29
Diluted	$	0.59	$	0.65	$	1.01	$	0.99	$	3.24
Dividends declared per share	$	0.34	$	0.34	$	0.34	$	0.34	$	1.36
Shares used in per share calculations:
Basic		24,067		24,145		24,172		24,179		24,141
Diluted		24,478		24,584		24,563		24,514		24,540
Balance Sheet Data
Rental equipment, net	$	865,338	$	876,522	$	888,607	$	901,015	$	901,015
Total assets		1,148,858		1,180,209		1,201,799		1,217,316		1,217,316
Notes payable		300,595		314,860		309,006		298,564		298,564
Shareholders’ equity		530,284		537,195		554,547		571,535		571,535