JOC Staff | Nov 06, 2012 11:04AM EST
SeaCube Container Leasing reported profit in the third quarter of $11.4 million, up 29.9 percent compared with $8.8 million in the third quarter of 2011.
Profit in the first nine months of 2012 was $34.6 million, up 27.2 percent from $27.2 million for the same period last year.
Quarterly revenue was $49.5 million, increasing 9.4 percent from $45.2 million in the third quarter of 2011. Revenue from January to September was $148.0 million, an increase of 20.5 percent compared with $122.8 million in the first nine months of 2011.
Year-to-date, the company has committed to purchase about $318.8 million in containers, of which 85 percent are already committed to long-term lease, which is expected to have a positive impact on results in 2012, CEO Joseph Kwok said in a written statement.