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Previous: UNITED COMPANIES FINANCIAL CORP, SC 13G/A, 1998-02-03 |
Next: BIOCONTROL TECHNOLOGY INC, 8-K, 1998-02-03 |
<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: February 3, 1998
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>
Item 5 - Other Events:
- ----------------------
On January 29, 1998, XTRA Corporation issued a press release disclosing certain
financial information for the first fiscal quarter ended December 31, 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
Ended
December 31,
(Unaudited)
1997 1996
------ ------
<S> <C> <C>
Revenues $ 121 $ 111
Operating expenses
Depreciation on rental equipment 38 36
Rental equipment operating expense 27 26
Selling and administrative expense 11 11
------ ------
76 73
------ ------
Operating income 45 38
Interest expense 15 16
------ ------
Income before provision for income taxes 30 22
Provision for income taxes 12 9
------ ------
Net income $ 18 $ 13
====== ======
Basic earnings per share $ 1.18 $ 0.85
Weighted average basic shares outstanding
(in millions) 15.3 15.3
Diluted earnings per share $ 1.17 $ 0.85
Weighted average diluted shares outstanding
(in millions) 15.4 15.3
</TABLE>
3
<PAGE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions of dollars)
<TABLE>
<CAPTION>
December 31, September 30,
1997 1997
(Unaudited) -------------
------------
<S> <C> <C>
Assets
Property and Equipment, net $ 1,422 $ 1,454
Receivables, net 112 108
Other Assets 20 23
------------ -------------
Total Assets $ 1,554 $ 1,585
============ =============
Liabilities and Stockholders' Equity
Liabilities
Debt $ 853 $ 892
Deferred Income Taxes 261 252
Other Liabilities 68 81
Stockholders' Equity 372 360
------------ -------------
Total Liabilities & Stockholders' Equity $ 1,554 $ 1,585
============ =============
Net Debt Outstanding $ 849 $ 888
============ =============
</TABLE>
4
<PAGE>
XTRA CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions of dollars)
(unaudited)
<TABLE>
<CAPTION>
Three Months
Ended
December 31,
1997 1996
------ ------
<S> <C> <C>
Cash Provided from Operations $ 61 $ 51
Cash Used for Investment Activities (19) (20)
Cash Used for Financing Activities (3) (16)
------ ------
(Increase)/Decrease in Net Debt Outstanding
(Debt-Cash) $ 39 $ 15
====== ======
</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: February 3, 1998 /s/ Michael J. Soja
----------------------------- -----------------------------------
Michael J. Soja
Vice President and
Chief Financial Officer
6
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