One Leasing Company Reveals Katrina Hurricane Costs In September, the Equipment Leasing Association ELA Monthly Leasing Index new business volume increased from Augusts' $4.28 billion to $5.06 billion, representing an 18.1 percent increase.
This is also the highest reported amount of new business volume for any month this year, it was reported. Among the participants was Marlin Leasing: ELA Monthly Leasing Index Participants
Marin Business Services, Mount Laurel, New Jersey, states its third quarter income, ending September 30, 2005, was $3.4 million, “consistent with net income of $3.4 million for the same period in 2004.” Factoring in Hurricane Katrina, the company stated, “Excluding the impact of Hurricane Katrina, net income for the quarter ended September 30, 2005 would have been $4.2 million, or a 23.6% increase over the $3.4 million of net income reported for the quarter ended September 30, 2004. As Rosanne Rosannadana would say, “One company did very well, and the other did not do as well. If you put one man's leg in the middle of a fire, and the other in an ice bucket, on the average, he would be comfortable. You know, if it isn't one thing, it's another .” On a more serious note, it should be pointed out, “For the nine months ended September 30, 2005 net income was $11.9 million compared to $9.9 million for the same period in 2004.” The company has experienced “controlled” growth, keeping to its original premise of vendor qualifications, strong policy on “sub-broker” business, and an efficient backroom that handles lease contracts down to $1,000, plus a mix of direct sales, vendor development, plus professional broker relationships. Stock Performance continues up for Marlin Leasing: http://www.snl.com/interactive/ir/corp.asp?iid=4089372 Full press release at: http://www.snl.com/interactive/ir/file.asp?IID=4089372&FID=1979065&OSID=9 Trend Analysis: http://www.snl.com/irweblinkx/sptrend.aspx?annual=0&IID=4089372
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