H&E Equipment Services last week announced fourth quarter revenues of $215.5 million, up 16.2 percent from the fourth quarter of 2005 when it posted $185.5 million. EBITDA for the quarter was $58.7 million, a 37.5-percent increase compared to $42.7 million in Q405.

Income from operations jumped 35.5 percent to $35.1 million from last year’s fourth quarter, while net income leaped 39.5 percent to $20.5 million, compared to $14.7 million in the year-ago period.

Equipment rental revenue for Q406 was $66 million, compared with $54.2 million the previous year, a 21.8-percent increase. At the end of the fourth quarter of 2006, the original acquisition cost of the rental fleet was $655.2 million, compared with $522.4 million at the end of 2005. Dollar utilization was 40.1 percent, compared to 41.4 percent for the year-ago period.

Total revenue for 2006 increased 34 percent to $804.4 million, up from $600.2 million in 2005. Equipment rental revenue was $251.4 million, a 31.8-percent jump from 2005’s total of $190.8 million, with dollar utilization jumping from 38.6 percent to 41.1 percent.

Total gross profit for 2006 was $263.2 million compared to $181.6 million for 2005, a 44.9-percent leap, with higher sales volumes and improved margins in all business segments. Gross profit from equipment rentals was $132.7 million, compared to $89.3 percent in 2006, a 48.6-percent hike.

“Our 2006 financial results are a direct result of strong market demand for our products and services across all our regions,” said H&E president and CEO John Engquist. “The demand for new equipment, primarily cranes, was exceptionally strong. The fundamentals of our business remain very strong with the level of nonresidential construction activity continuing to expand in the regions we serve.”

Engquist predicted a strong 2007. “The strong fundamental drivers of our business combined with our footprint, which is in many of the fastest-growing regions of the U.S., will provide significant opportunity for growth in 2007,” he said. “In addition, our exposure to the petrochemical sector, energy sector, mining industry, and the Gulf region hurricane protection and rebuilding efforts should drive increased demand for our products and services for some time to come.”

Engquist added the company is continuing to explore acquisition and start-up opportunities. The company is expecting 2007 revenue in the range of $900 million to $920 million.

Based in Baton Rouge, La., H&E Equipment Services is No. 11 on the RER 100.