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Previous: DEFINED ASSET FUNDS MUNICIPAL INVT TR FD MON PYMT SER 78, 485BPOS, 1997-11-19 |
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<PAGE>
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: November 19, 1997
XTRA Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-7654 06-0954158
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 - Other Events:
- ----------------------
On November 13, 1997, XTRA Corporation issued a press release disclosing certain
financial information for the fourth fiscal quarter ended September 30, 1997,
which financial information is contained herein on pages 3-5.
2
<PAGE>
XTRA CORPORATION AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(Millions of dollars except per share and share amounts)
<TABLE>
<CAPTION>
Three Months Twelve Months
Ended Ended
September 30, September 30,
(Unaudited)
----------------- -----------------
1997 1996 1997 1996
------ ------ ------ ------
<S> <C> <C> <C> <C>
Revenues $ 117 $ 108 $ 435 $ 422
Operating expenses
Depreciation on rental equipment 40 37 149 146
Rental equipment operating expense 28 25 109 101
Selling and administrative expense 11 11 43 40
----- ----- ----- -----
79 73 301 287
----- ----- ----- -----
Operating income 38 35 134 135
Interest expense 16 16 63 66
----- ----- ----- -----
Income before provision for income taxes 22 19 71 69
Provision for income taxes 9 8 28 28
----- ----- ----- -----
Net income $ 13 $ 11 $ 43 $ 41
===== ===== ===== =====
Earnings per share $0.88 $0.71 $2.77 $2.56
Weighted average shares outstanding (in millions) 15.4 15.7 15.4 16.1
</TABLE>
3
<PAGE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions of dollars)
<TABLE>
<CAPTION>
September 30, September 30,
1997 1996
-------------------------------
<S> <C> <C>
Assets
Property and Equipment, net $1,454 $1,407
Receivables, net 108 94
Other Assets 23 36
------ ------
Total Assets $1,585 $1,537
====== ======
Liabilities and Stockholders' Equity
Liabilities
Debt $ 892 $ 892
Deferred Income Taxes 252 227
Other Liabilities 81 76
Stockholders' Equity 360 342
------ ------
Total Liabilities & Stockholders'
Equity $1,585 $1,537
====== ======
Net Debt Outstanding $ 888 $ 884
====== ======
</TABLE>
4
<PAGE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions of dollars)
<TABLE>
<CAPTION>
Twelve Months
Ended September 30,
1997 1996
------ ------
<S> <C> <C>
Cash Provided from Operations $ 269 $ 272
Cash Used for Investment Activities (249) (210)
Cash Used for Financing Activities (24) (55)
------ ------
(Increase)/Decrease in Net Debt
Outstanding (Debt - Cash) $ (4) $ 7
====== ======
</TABLE>
5
<PAGE>
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: November 19, 1997 /s/ Michael J. Soja
---------------------------- -------------------------------------
Michael J. Soja
Vice President and
Chief Financial Officer
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