Business
Canadian Equipment Rental Fund Limited Partnership Announces Second Quarter Results
Canadian Equipment Rental Fund Limited Partnership Announces Second Quarter Results.
About this update from Zedcor Inc
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Nov. 25 /CNW/ - Mr. Wayne Wadley, president of CERF GP Corp.,\nthe general partner of Canadian Equipment Rental Fund Limited Partnership (the\n\"Partnership\"), is pleased to report the results for the second quarter ended\nSeptember 30, 2005.\n\nQuarter Highlights Include:\n - First quarter of operations for the Partnership\n - Increase in revenue of 181% over the same period last year\n - Earnings of $153, 266 representing basic earnings of $0.049 per\n unit\n - Net additions of $463,613 of equipment to the fleet\n\nMr. Wadley comments, \"Our success this quarter has been accomplished\nthrough our focus on improved utilization and expanding our rental fleet. The\nfact that sales for the quarter ended September 30, 2005 exceeded sales for\nthe quarter ended October 31, 2004 and that net income for the current quarter\nwere almost equal to those of the 2004 quarter is a great achievement and\nrepresents a significant increase in sales volume while controlling costs.\nHistorically, October is the strongest sales month of the year which is not\nincluded in this quarter's numbers. We were able to meet some of the demand\nfor equipment, but still remain challenged to meet the needs of our customer\nin the winter months especially in the areas of material handling, power\ngeneration, and heating equipment\".\nThe three months ended September 30, 2005 represent the first quarter of\noperations as a limited partnership since 4-Way Equipment Rentals Ltd. 0\n(\"4-Way\") reorganized to become Canadian Equipment Rental Fund a public\nlimited partnership. To reflect this continuity the comparative periods\npresented prior to June 23, 2005 are those of 4-Way. 4-Way had a 2004 year end\nof April 30, therefore the comparative quarters are the three months ended\nJuly 31, 2004, October 31, 2004 and January 31, 2005. Net income for the\nquarter was $153,266 and $254,355 for the six months that ended. This\nrepresents basic earnings per unit of $0.049 for the three months and $0.096\nfor the six month period.\n\nRentals\nDemand for rental equipment in the construction and industrial sectors\ncontinues to be strong heading into the winter season. Equipment shortages in\nkey areas remain prevalent as renovation and new construction contractors in\nthe residential, commercial, and light industrial sectors attempt to complete\npro...