Canadian Equipment Rental Fund posted a 21.9-percent decline in revenue for the first quarter of 2009, with CD $4.17 million (about U.S. $3.82 million), compared with CD $5.15 million for the first quarter of 2008. Net income was $894,589 for the first quarter, compared with $1.94 million for the year-ago period.
“Edmonton and area remains busy in many sectors despite a slowdown in other areas of the province and country,” said CERF president Wayne Wadley. “This is particularly evident in the ongoing and recent infrastructure project announcements for new hospitals, recreation and health centers, retail, commercial and residential real estate development, bridge construction, utility upgrades and manufacturing facilities of which many of our customers are directly involved. We are expecting the commercial construction market to actually accelerate for many of our customers in 2009 compared to levels experienced in the last half of 2008.”
CERF, operating as 4-Way Equipment Rentals, is based in Edmonton, Alberta, Canada.