Las Vegas— Ahern Rentals, based in Las Vegas, reported an increase of 13 percent in equipment rentals and related revenues for the third quarter 2008, to $89 million. Overall revenues, including sales of new and used equipment, were up 11 percent for the third quarter to $101.4 million.
For the nine months ended Sept. 30, 2008, overall revenues were $293 million, up from $244.7 million for the same period in 2007, an increase of 20 percent.
The company, in its 10-Q quarterly filing with the Securities and Exchange Commission, said same-branch revenues in the quarter increased 12 percent, while three new branches that have opened since the third quarter of 2007 accounted for an additional $1.5 million in revenue for the quarter.
Ahern also said the increased equipment rentals and related revenues resulted from an increase in the number of units available for rent.
The company said sales of rental equipment in 2008 decreased 23 percent in the quarter compared with the same time period in 2007. Sales of new equipment and other revenues in 2008 were up 14 percent over the same time period in 2007 due to increased merchandise sales.
Ahern has a network of 48 equipment rental branches in 11 states.