Las Vegas-based Ahern Rentals increased revenue 31 percent in 2006, matching the 31 percent increase in 2005 compared with 2004. Total revenue was $266.1 million for the company in 2006, up from $203.7 million in 2005. Rental revenue accounted for $236.9 million, up from $179.9 million in 2005.
Net income increased from $5.6 million to $25.2 million.
High-reach rental accounted for 69 percent of rental revenue, the company said, with 20 percent from general rental including earth-moving equipment.
The company said the increase was the result of an increase in the number of units available for rent as a result of capital expenditures that increased the average original cost of its rental fleet to $474 million in 2006 from $354 million in 2005. This increase was slightly offset by a drop in average dollar utilization from 51 percent in 2005 to 50 percent in 2006.
Since the beginning of 2007, Ahern Rentals has opened new branches in Hurricane, Utah; Cedar City, Utah; Kansas City, Kan., and Houston.
Ahern Rentals is No. 12 on the RER 100.
