CAI International’s Profit Jumps 27 Percent

CAI International’s Profit Jumps 27 Percent

CAI International reported profit of $64.3 million last year, increasing 27 percent from $50.8 million in 2011. Annual revenue was $173.9 million, up 38 percent from $125.7 million.

In the fourth quarter of 2012 the intermodal freight container lessor’s net income was $17.4 million, rising 35 percent from $12.9 million in the fourth quarter of 2011.

Quarterly revenue jumped 38 percent from $36.2 million in 2011 to $49.9 million in 2012.

“During the year, we invested more than $520 million in equipment, a record level for CAI,” said CEO Victor Garcia in a written statement.

“We believe that a strong market for new container investment, combined with the continuation of opportunities for sale leasebacks with customers and the repurchase of managed portfolios, will lead to continued strong growth in revenue and profitability for CAI in 2013,” he added.