INTERPOOL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share amounts)
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
---- ---- ---- ----
<S> <C> <C> <C> <C>
REVENUES.................................................... $36,431 $31,484 $71,610 $59,179
COSTS AND EXPENSES:
Lease operating and administrative expenses ................ 6,957 7,192 14,519 14,626
Depreciation and amortization of leasing equipment ......... 8,048 6,884 15,985 12,869
Gain on sale of leasing equipment........................... (173) (188) (444) (619)
Interest expense, net....................................... 10,228 9,271 20,081 16,332
Non-recurring charge........................................ - - 2,392 -
------ ------ ------ ------
25,060 23,159 52,533 43,208
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Income before taxes ........................................ 11,371 8,325 19,077 15,971
Provision for income taxes.................................. 1,900 1,350 3,550 2,575
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NET INCOME.................................................. $9,471 $6,975 $15,527 $13,396
====== ====== ======= =======
NET INCOME PER SHARE:
Primary.................................................. $0.47 $0.40 $0.89 $0.77
Fully diluted............................................ $0.45 $0.37 $0.86 $0.71
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING:
Primary.................................................. 17,728 17,333 17,645 17,340
Fully diluted............................................ 20,981 20,226 20,806 20,240
</TABLE>
The accompanying notes to consolidated financial statements are an integral part
of these statements.
