Mobile Mini Q3 Profit Rises; To Buy Back Shares - Quick Facts

(RTTNews) - Mobile Mini Inc.'s (MINI) third-quarter net income increased to $14.3 million, or $0.31 per share, from $10.4 million, or $0.23 per share, in the 2012 period. On an adjusted basis, net income totaled $13.0 million, or $0.28 per share in the recent quarter. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.31 for the quarter. Analysts' estimates typically exclude one-time items.

Three-month total revenues were $105.5 million and leasing revenues were $95.8 million, up from $99.0 million and $88.8 million, respectively, for the prior year. Five analysts estimated revenues of $104.73 million for the quarter.

Separately, the board has authorized the quarterly cash dividends payment, as well as a share repurchase program. The firm has initiated a regular quarterly cash dividend of $0.17 per share, or $0.68 per share annually. The initial quarterly dividend would be payable on March 20, 2014 to all common shareholders of record as of March 6, 2014.

Also, a repurchase program for up to $125 million of stock has been authorized in open market and private transactions.