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Previous: IAI INVESTMENT FUND I INC, N-30D, 1996-01-29 |
Next: FEDERATED MASTER TRUST, NSAR-B, 1996-01-29 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report: January 29, 1996
XTRA Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-7654 06-0954158
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State of incorporation (Commission (IRS Employer
of organization File Number) Identification No.)
60 State Street, Boston, MA 02109
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(Address of principal executive offices) Zip Code
Registrant's telephone number including area code: (617) 367-5000
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N/A
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(Former name or former address, if changed since last report)
<PAGE> 2
Item 5. Other Events
------
On January 25, 1996, XTRA Corporation issued a press release
disclosing certain financial information for the fiscal first quarter ended
December 31, 1995, which financial information is contained herein on pages 3-5.
-2-
<PAGE> 3
<TABLE>
XTRA CORPORATION AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
------------------------------
(Millions of dollars except per share and share amounts)
(Unaudited)
<CAPTION>
Three Months Ended
December 31,
------------------
1995 1994
-------- --------
<S> <C> <C>
Revenues $ 112.2 $ 96.3
Operating expenses
Depreciation and lease financing 36.3 26.5
Rental equipment operating expense 24.9 20.7
Selling & administrative expense 10.5 8.1
------- -------
71.7 55.3
------- -------
Operating income 40.5 41.0
Interest expense 16.7 8.3
Foreign exchange loss 0.4 --
------- -------
Income before provision for income taxes 23.4 32.7
Provision for income taxes 9.5 13.6
------- -------
Net income 13.9 19.1
======= =======
Earnings per share $ 0.85 $ 1.12
Weighted average shares outstanding (in thousands) 16,431 17,034
</TABLE>
3
<PAGE> 4
<TABLE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
-------------------------------------
(Millions of dollars)
<CAPTION>
December 31,
1995 September 30,
(Unaudited) 1995
------------ -------------
<S> <C> <C>
Assets
Receivables, net $ 103 $ 98
Property & Equipment, net 1,413 1,398
Other Assets 26 27
------ ------
Total Assets $1,542 $1,523
====== ======
Liabilities & Stockholders' Equity
Other Liabilities $ 69 $ 73
Debt 914 897
Deferred Income Taxes 202 194
Stockholders' Equity 357 359
------ ------
Total Liabilities & Stockholders' Equity $1,542 $1,523
====== ======
Net Debt Outstanding $ 913 $ 891
====== ======
</TABLE>
4
<PAGE> 5
<TABLE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
-----------------------------------------------
(Millions of dollars)
(Unaudited)
<CAPTION>
Three Months Ended December 31,
1995 1994
------------ ------------
<S> <C> <C>
Cash Provided from Operations $ 57 $ 55
Cash Used for Investment Activities (65) (48)
Cash Used for Financing Activities (14) (2)
---- ----
Increase in Net Debt Outstanding (Debt-Cash) $(22) $ 5
==== ====
</TABLE>
5
<PAGE> 6
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
XTRA Corporation
------------------------------
(Registrant)
Date: January 29, 1996 /s/ Michael J. Soja
----------------------------- ------------------------------
Michael J. Soja
Vice President and
Chief Financial Officer
6
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