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NationsRent Reports First-Quarter Loss

Jun 1, 2001 12:00 PM

FORT LAUDERDALE, Fla. — Nations-Rent reported a net loss of $27.4 million for the first quarter ended March 31, including restructuring and other charges of about $11.3 million.

The company, No. 4 on the RER 100, said total revenue was $148.8 million for the quarter, a 4.6 percent increase over the same period last year, but first-quarter rental revenue dipped slightly to $109.3 million from $110.3 million the year before.

NationsRent reported $31.8 million in used equipment sales, double the amount of fleet it sold off in the first quarter of 2000.

Looking ahead, NationsRent CEO James Kirk said second-quarter business has been stronger and the company expects to show year-over-year growth with a return to profitability in the second half of the year. He also expressed optimism for NationsRent's rental departments within Lowe's home-improvement centers.

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© 2012 Penton Media Inc.

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