EXHIBIT 99.1


FOR IMMEDIATE RELEASE
 
 
GENERAL FINANCE CORPORATION REPORTS FOURTH QUARTER AND RECORD RESULTS FOR FISCAL YEAR 2014

Seventeenth Consecutive Quarter of Year-Over-Year Growth in Total Revenues and Adjusted EBITDA

PASADENA, CA – September 8, 2014 – General Finance Corporation (NASDAQ: GFN), the parent company of businesses in the mobile storage, liquid containment and modular space (“portable services”) industries (the “Company”), today announced its consolidated financial results for the fourth quarter and the fiscal year ended June 30, 2014. The consolidated results include the Company’s principal leasing operations in the Asia-Pacific regions of Australia and New Zealand, consisting of majority-owned Royal Wolf Holdings Limited (“Royal Wolf”), the leading provider of portable storage solutions in those regions, and in North America, consisting of wholly-owned Pac-Van, Inc. (“Pac-Van”) and Lone Star Tank Rental Inc. (“Lone Star”), prominent regional providers of portable storage, office and liquid storage tank containers, mobile offices and modular buildings, and 90%-owned Southern Frac, LLC (“Southern Frac”), a domestic manufacturer of portable liquid storage tank containers.

Fourth Quarter 2014 Highlights
 
Total revenues were $90.1 million, an increase of 39% over the fourth quarter of fiscal year 2014, and included revenues of $14.7 million at Lone Star, which was acquired on April 7, 2014 for approximately $102 million.
 
Leasing revenues comprised 61% of total non-manufacturing revenues versus 52% for the fourth quarter of fiscal year 2013.
 
Adjusted EBITDA was $23.4 million, an increase of 80% over the fourth quarter of fiscal year 2013, primarily driven by increased leasing revenues in North America.
 
Adjusted EBITDA margin was 26%, compared to 20% in the fourth quarter of fiscal year 2013.
 
Net income attributable to common shareholders was $0.8 million, or $0.03 per diluted share, compared to $0.2 million, or $0.01 per diluted share, for the fourth quarter of fiscal year 2013.
 
Average fleet unit utilization in the Asia-Pacific was 82%.
 
Average fleet unit utilization in North America was 77%.
 
Raised $72 million in gross proceeds from a senior notes offering.

Fiscal Year 2014 Highlights
 
Total revenues were $287.1 million, an increase of 17% over fiscal year 2013, and included revenues of $14.7 million at Lone Star.
 
Leasing revenues comprised 56% of total non-manufacturing revenues versus 55% for fiscal year 2013.
 
Adjusted EBITDA was $69.1 million, an increase of 30% over fiscal year 2013.
 
Adjusted EBITDA margin was 24%, compared to 22% for fiscal year 2013.
 
Net income attributable to common shareholders was $3.9 million, or $0.15 per diluted share, compared to $3.5 million, or $0.16 per diluted share, for the fiscal year 2013.
 
Fleet utilization as of June 30, 2014 in the Asia-Pacific was 82%.
 
Fleet utilization as of June 30, 2014 in North America was 79%
 
Completed seven acquisitions, five in North America, including Lone Star, and two in the Asia-Pacific region.


 
1

The following information was filed by General Finance Corp (GFN) on Monday, September 8, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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