MAXIM Crane Works, formerly Anthony Crane Rental, has reported total revenues of $113.7m for the first quarter of 2001, compared to $97.6m for the first quarter 2000. Rental revenues, which exclude revenues from equipment sales, rose 22% to $104.0m.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 9% to $29.1m. EBITDA from equipment rentals (which excludes gains on the sale of new equipment) increased 14% to $28.5m.
A net loss of $7.7m for the quarter, compared to a net loss of $5.3m for the first quarter of 2000, was attributed mainly to the increased depreciation, amortisation and interest expense associated with its capital expenditure programme as well as the acquisitions completed in 2000.
