(RTTNews) - Wednesday, Mobile Mini Inc. (MINI: News ), a provider of portable storage solutions, reported that its profit for the third-quarter decreased from the prior year quarter on lower revenues.

The company posted net income of $8.12 million or $0.19 per share versus $13.3 million or $0.31 per share for the prior year quarter.

Excluding charges, net income was $9.1 million compared to $17.1 million last year, while earnings per share were $0.21 compared to $0.40 a year ago.

On average, six analysts polled by Thomson Reuters expected the company to report a profit of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased 30.6% to $92.1 million from $132.8 million last year. Analysts expected revenue of $92.66 million for the quarter.

Revenues from Leasing declined to $82.1 million from $119.3 million last year, while Sales revenues were $9.5 million compared to $12.5 million a year ago.
Since December 2008, the company reduced over 850 positions or approximately 35% of its workforce.

Net income for the nine months were $21.8 million or $0.51 per share versus $28.8 million or $0.77 per share for the prior year period. Total revenues for the nine months decreased to $287.2 million from $292.4 million for the year ago period.

MINI is currently being traded at $14.61 up $0.44 or 3.11% on a volume of 72,468 thousand shares on the Nasdaq.

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by RTT Staff Writer

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