Delaware | 1-12804 | 86-0748362 | ||
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File Number) | Identification No.) |
7420 South Kyrene Road, Suite 101, Tempe, Arizona | 85283 | |
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Condition | ||||||||
Item 9.01 Exhibits | ||||||||
SIGNATURES | ||||||||
EX-99.1 |
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Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Reconciliation of EBITDA to net cash provided by operating activities: |
||||||||||||||||
EBITDA |
$ | 33,611 | $ | 20,354 | $ | 73,040 | $ | 49,814 | ||||||||
Interest paid |
(11,573 | ) | (3,712 | ) | (27,702 | ) | (6,990 | ) | ||||||||
Income and franchise taxes paid |
(728 | ) | (327 | ) | (872 | ) | (429 | ) | ||||||||
Share-based compensation expense |
1,660 | 1,376 | 3,281 | 2,364 | ||||||||||||
Gain on sale of lease fleet units |
(2,934 | ) | (1,603 | ) | (5,779 | ) | (3,094 | ) | ||||||||
Loss on disposal of property, plant and equipment |
11 | | 36 | 29 | ||||||||||||
Changes in certain assets and liabilities, net of effect of
business acquired: |
||||||||||||||||
Receivables |
5,836 | (4,898 | ) | 17,563 | (2,264 | ) | ||||||||||
Inventories |
1,209 | (3,067 | ) | 1,639 | (3,570 | ) | ||||||||||
Deposits and prepaid expenses |
2,105 | 357 | 2,435 | 900 | ||||||||||||
Other assets and intangibles |
(260 | ) | 4,430 | (441 | ) | 99 | ||||||||||
Accounts payable and accrued liabilities |
(2,701 | ) | 7,701 | (16,364 | ) | 4,682 | ||||||||||
Net cash provided by operating activities |
$ | 26,236 | $ | 20,611 | $ | 46,836 | $ | 41,541 | ||||||||
Reconciliation of net income to EBITDA: |
||||||||||||||||
Net income |
$ | 5,227 | $ | 4,861 | $ | 13,693 | $ | 15,519 | ||||||||
Interest expense |
14,966 | 6,419 | 30,207 | 12,564 | ||||||||||||
Provision for income taxes |
2,984 | 3,327 | 8,453 | 10,315 | ||||||||||||
Depreciation and amortization |
10,434 | 5,747 | 20,687 | 11,416 | ||||||||||||
EBITDA |
$ | 33,611 | $ | 20,354 | $ | 73,040 | $ | 49,814 | ||||||||
Reconciliation of free cash flow: |
||||||||||||||||
Net cash provided by operating activities |
$ | 26,236 | $ | 20,611 | $ | 46,836 | $ | 41,541 | ||||||||
Net cash provided by (used in) investing activities, excluding acquisitions |
75 | (13,864 | ) | 1,519 | (30,339 | ) | ||||||||||
Free cash flow |
$ | 26,311 | $ | 6,747 | $ | 48,355 | $ | 11,202 | ||||||||
(d) | Exhibits. |
99.1 | Registrants press release, dated August 5, 2009. |
MOBILE MINI, INC. |
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Dated: August 5, 2009 | /s/ Mark E. Funk | |||
Name: | Mark E. Funk | |||
Title: | Executive Vice President and Chief Financial Officer |
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