NationsRent Grows Revenues in First Quarter

NationsRent grew rental revenue 11.2 percent in the first quarter of 2006, grossing $111.7 million, up from $100.5 million in last year’s first quarter. The Fort Lauderdale, Fla.-based company grew total revenue 14.7 percent, from $140.5 million in Q105 to $161.2 million this year.

Total gross profit grew 50 percent year over year, from $25.5 million in last year’s first quarter to $38.2 million this year.

NationsRent officials said rental revenue increased as a result of increased pricing and higher deployment, resulting from increased non-residential construction activity; continued strong demand from customers and a greater number of rental units deployed.

First quarter utilization was 46.7 percent, compared to 43.4 percent in Q105.

NationsRent is No. 6 on the RER 100.

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