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He Equipment Services, Inc. (HEES) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

He Equipment Services, Inc.

CIK: 1339605 Ticker: HEES

Exhibit 99.1

 

LOGO   News Release

Contacts:

Leslie S. Magee

Chief Financial Officer

225-298-5261

lmagee@he-equipment.com

Kevin S. Inda

Corporate Communications, Inc. (CCI)

407-566-1180

kevin.inda@cci-ir.com

H&E Equipment Services Reports Fourth Quarter 2012 Results

BATON ROUGE, Louisiana — (March 5, 2013) —

H&E Equipment Services, Inc. (NASDAQ: HEES) today announced results for the fourth quarter and year ended December 31, 2012.

FOURTH QUARTER 2012 HIGHLIGHTS:

 

   

Revenues increased 15.3% to $250.1 million versus $217.0 million a year ago.

 

   

Net income was $10.7 million in the fourth quarter compared to $7.9 million a year ago.

 

   

EBITDA increased 39.2% to $60.4 million from $43.4 million, yielding a margin of 24.1% compared to 20.0% of revenues a year ago.

 

   

Rental revenues increased 28.9%, or $18.1 million, to $80.7 million due to a larger fleet and improved rates compared to a year ago. Demand remained strong during the fourth quarter.

 

   

New equipment sales were consistent at $87.0 million compared to a year ago.

 

   

Gross margin was 29.4% as compared to 25.8% a year ago. Rental gross margin increased to 48.1% compared to 44.5% a year ago.

 

   

Average time utilization (based on original equipment cost) was 71.8% compared to 72.3% a year ago and 72.9% in the third quarter of 2012. Average time utilization (based on units available for rent) was 66.6% compared to 67.3% last year and 68.9% last quarter.

 

   

Average rental rates increased 10.1% compared to a year ago and improved 0.4% compared to the third quarter of this year.

 

   

Dollar utilization was 36.4% as compared to 33.9% a year ago.

 

   

Average rental fleet age at December 31, 2012 was 38.0 months, down from 38.6 months at the end of the last quarter and significantly younger than the industry average age of 48 months.

 

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The following information was filed by He Equipment Services, Inc. (HEES) on Tuesday, March 5, 2013 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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Document And Entity Information
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (parenthetical)
Accrued Expenses Payable And Other Liabilities
Accrued Expenses Payable And Other Liabilities (details)
Accrued Expenses Payable And Other Liabilities (tables)
Capital Lease Obligations
Capital Lease Obligations (details Textual)
Capital Lease Obligations (details)
Capital Lease Obligations (tables)
Commitments And Contingencies
Commitments And Contingencies (details Textual)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Consolidating Financial Information Of Guarantor Subsidiaries
Consolidating Financial Information Of Guarantor Subsidiaries (details 1)
Consolidating Financial Information Of Guarantor Subsidiaries (details 2)
Consolidating Financial Information Of Guarantor Subsidiaries (details)
Consolidating Financial Information Of Guarantor Subsidiaries (tables)
Deferred Compensation Plans
Deferred Compensation Plans (details)
Employee Benefit Plan
Employee Benefit Plan (details)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Inventories
Inventories (details Textual)
Inventories (details)
Inventories (tables)
Manufacturer Flooring Plans Payable
Manufacturer Flooring Plans Payable (details Textual)
Manufacturer Flooring Plans Payable (details)
Manufacturer Flooring Plans Payable (tables)
Organization And Nature Of Operations
Property And Equipment
Property And Equipment (details Textual)
Property And Equipment (details)
Property And Equipment (tables)
Receivables
Receivables (details)
Receivables (tables)
Related Party Transactions
Related Party Transactions (details Textual)
Segment Information
Segment Information (details Textual)
Segment Information (details)
Segment Information (tables)
Senior Secured Credit Facility
Senior Secured Credit Facility (details)
Senior Unsecured Notes
Senior Unsecured Notes (details)
Subsequent Events
Subsequent Events (details)
Summarized Quarterly Financial Data (unaudited)
Summarized Quarterly Financial Data (unaudited) (details Textual)
Summarized Quarterly Financial Data (unaudited) (details)
Summarized Quarterly Financial Data (unaudited) (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 1)
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details 5)
Summary Of Significant Accounting Policies (details 6)
Summary Of Significant Accounting Policies (details Textual)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: HEES
CIK: 1339605
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-091690
Submitted to the SEC: Tue Mar 05 2013 4:08:20 PM EST
Accepted by the SEC: Tue Mar 05 2013
Period: Monday, December 31, 2012
Industry: Miscellaneous Equipment Rental And Leasing

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