PITTSBURG — Anthony Crane Rental Holdings and Subsidiaries (doing business as Maxim Crane Works), announced a small revenue increase for the third quarter and nine months ended Sept. 30, 2001.
For the third quarter of 2001, Maxim Crane Works posted total revenues of $101.6 million as compared to $100.1 million for the corresponding third quarter ended Sept. 30, 2000. Rental revenues, which exclude revenues from equipment sales, increased to $96.5 million from $93.3 million for the third quarter of 2000. Earnings before interest, taxes, depreciation and amortization for the quarter were $24.4 million compared to $34.5 million for the corresponding third quarter of 2000. EBITDA from equipment rentals decreased to $24.2 million as compared to $33.8 million for the corresponding third quarter of 2000. The company reported a net loss of $11.3 million as compared to a net loss of $1.2 million for the third quarter of 2000.
For the nine months ended Sept. 30, 2001, Maxim Crane Works posted total revenues of $321.4 million as compared to $296.8 million for the corresponding nine months ended Sept. 30, 2000. Rental revenues, which exclude revenues from equipment sales, increased to $298.7 million from $268.0 million for the nine months ended Sept. 30, 2000. EBITDA for the nine-month period was $82 million compared to 93.1 million for the corresponding nine-month period of 2000. EBITDA from equipment rentals decreased to $80.5 million compared to $89.9 million for the nine months ended Sept. 30, 2000. The company reported a net loss for the nine months ended Sept. 30, 2001 of $25.9 million compared to a net loss of $9.2 million for the nine months ended Sept. 30, 2000.
Maxim Crane Works is No. 7 on the RER 100.
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