CERF Inc., the Alberta, Canada parent company to 4-Way Equipment Rentals posted a 9-percent first quarter revenue total of CDN $12.4 million (about U.S. $11.4 million), compared to $11.4 million for the first quarter of 2013. Net income jumped 34 percent to $1.49 million in the first quarter, compared to $1.1 million in the same period a year ago.
CERF has equipment rental and waste management segments. The company attributed its increase to demand in the equipment rental segment.
“CERF had a successful start to 2014, and we are very pleased to announce the seventh consecutive quarter in which CERF has delivered results that exceeded those reported a year earlier,” said Wayne Wadley, president of CERF Inc. “In the first quarter we recorded meaningful increases in our net income, and adjusted free cash flow coupled with a significant decrease in our payout ratio were driven by higher demand for service in our rental equipment division.”
Edmonton, Alberta-based 4-Way Equipment Rentals is No. 90 on the new RER 100.