Equipment rental company, distributor and software provider Noble Iron posted consolidated revenues of $5.8 million for the third quarter, compared to $5 million for the same period in 2013, a 16-percent hike. Total revenue for the first nine months of the year totaled $16.1 million compared to $15.1 million last year, a 6.6-percent increase.
Construction and industrial equipment rental revenue for the third quarter was $4.6 million, compared to $4.1 million a year ago, a 12.2-percent jump. For the first nine months of the year the segment jumped 10.3 percent to $12.8 million.
Noble Iron’s Texada Software segment posted $1.2 million in revenue for the third quarter compared to $900,000 in the year-ago quarter, a 33.3-percent leap. For the nine-month period, revenues were essentially flat year over year, $3.4 million in 2014 compared to $3.5 million a year ago.
Noble Iron said the increase in rental revenue was driven by increased fleet as well as sales and marketing initiatives.
Noble Iron increased spending on fleet repair and maintenance rather than disposing and replenishing fleet during the first nine months at its Southern California operations.
Noble Iron is headquartered in Houston.