Cronos Group Sees Net Income Rise in 2000
May 1, 2001 12:00 PM
The Cronos Group has reported net income of $5.2 million for 2000, compared with net income of $1.9 million for 1999. Net income for 2000 included $1.7 million of non-operating items comprising a gain on sale of investments of $3.6 million, a net gain on sale of a property of $0.3 million, and non-operating legal and other professional expenses of $2.3 million.
Total revenues for 2000 were $147.1 million, compared with $140.4 million for 1999. Gross lease revenue increased by $5.5 million due to combined effects of a larger fleet size and higher utilization, offset by effects of lower per-diem rental rates. Direct operating expenses declined by nearly 15%, from $31.2 million in 1999 to $26.6 million in 2000, largely due to a $3-million reduction in inventory-related costs resulting from an increased number of containers on hire.
© 2013 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus