Stephenson’s Rental Services last week announced results for the three months and year ended December 3, with 26 percent year-over-year revenue increases in the fourth quarter and full year 2006. EBITDA rose 36 percent for the full year and 58 percent for the fourth quarter.
Although warmer than usual winter weather negatively impacted Stephenson’s heating division, it had a positive effect on construction activity.
Revenue for the fourth quarter increased 25.8 percent to CD $16.3 million (about U.S. $14.1 million), primarily because of the contributions from the acquisition of A-1 Equipment Rental in May 2006. Rental revenue represented about 81 percent for the quarter.
Full year revenue rose 25.7 percent to $55.3 million (about U.S. $48 million), an increase stimulated by the acquisition of A-1 and presence of a larger rental fleet.
Based in Mississauga, Ontario, Stephenson’s is No. 48 on the RER 100.
