CAI International Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Tax Rate Guidance for the Year 2016
For the year, the company reported total revenue of $249,667,000 against $227,589,000 a year ago. Operating income was $67,440,000 against $103,554,000 a year ago. Net income before income taxes and non-controlling interest was $31,224,000 against $67,576,000 a year ago. Net income attributable to company was $26,838,000 or $1.28 per diluted share against $60,274,000 or $2.85 per share a year ago. Net cash provided by operating activities was $147,369,000 against $139,687,000 a year ago. Purchase of furniture, fixtures and equipment was $83,000 against $28,000 a year ago. Adjusted net income attributable to company was $50,464,000 or $2.40 per diluted share against $59,109,000 or $2.79 per share a year ago. The net cash flow amount or free cash flow was 126 million.
The company expects an effective rate of approximately 11% for the year 2016.