TAL International Group reported a profit of $37.9 million for the second quarter of 2013, a jump of 29.4 percent from $29.3 million in the second quarter of 2012.
Quarterly leasing revenue for intermodal freight container and chassis lessor totaled $139.5 million, up 9.1 percent year-over-year.
“TAL continued to achieve outstanding operational and financial results in the second quarter of 2013,” said Brian M. Sondey, president and CEO of TAL International, in a written statement. “Our income continues to be supported by very high utilization.”
From January to June, net income rose 21.2 percent from $62.2 million in 2012 to $75.4 million in 2013. Leasing revenue in the first six months of the year totaled $276.6 million, compared with $251.0 million last year.
“We currently expect our market environment to hold fairly steady as we head into the second half of the year,” Sondey concluded. “We expect our utilization to remain high and expect our leasing revenue will continue to grow as containers committed to lease are picked up.”