TAL Income Rose 72.3 Percent in Third Quarter

TAL Income Rose 72.3 Percent in Third Quarter

Intermodal freight container and chassis lessor TAL International reported profit in the third quarter of $31.15 million, up 72.3 percent from $18.08 million in the same quarter last year.

Profit in the first nine months of 2012 was $93.38 million, growing 26.4 percent from $73.86 million in the same period of 2011.

Quarterly revenue was $149.02 million, an increase of 8.2 percent from $137.76 million in the third quarter last year. Revenue from January to September was $437.38 million, up 14.3 percent year-over-year from $382.50 million in the first nine months of 2011.

The company generally expects strong market conditions to continue for the rest of the year and into 2013, despite an unusually short summer peak season for dry containers and lowered expectations in trade growth from the beginning of 2012, said Brian M. Sondey, president and CEO.