LAS VEGAS — Ahern Rentals reported $179.9 million in 2005 rental volume, a 32-percent increase compared with 2004's $136.4 million rental volume, according to documents the Las Vegas-based company filed with the Securities and Exchange Commission. Ahern had total revenue of $203.8 million, a 31.3 percent year-over-year increase.
EBITDA for 2005 was $80.2 million, a 40.2-percent boost from 2004's $57.2 million.
Ahern officials said increased revenues are attributable to an increase in average dollar utilization from 46 percent in 2004 to 51 percent in 2005. The company said the primary factors contributing to the increase in dollar utilization were an 11-percent increase in average rental rates and an increase in average time utilization of its high-reach equipment to 73 percent in 2005 compared to 72 percent in 2004. The company also cited higher average gross equipment balances because of $128 million of capital expenditures on rental equipment in 2005.
Gross profit increased 43 percent to $73.5 million for 2005 from $51.6 million in 2004.
Ahern Rentals officials said the company generated 69 percent of its revenues from high-reach rental, 20 percent from general equipment rental and 11 percent from the sale of new and used rental equipment, and related merchandise, parts and service.
The company continues to be well capitalized with $71.6 million available for borrowing at the end of 2005 under its amended credit facility.
Ahern Rentals is No. 12 on the RER 100.
