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Mobile Mini Q1 Profit Up

Mobile Mini, Inc. (MINI) Monday reported first-quarter net income of $18.1 million or $0.40 per share, up from $14.9 million or $0.33 per share.

Adjusted earnings were $0.41 per share, up from $0.33 per share last year.

Revenues for the quarter rose to $149.6 million from $140.7 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.38 per share on revenues of $147.74 million for the quarter.

CEO Erik Olsson said, "I am very pleased with our performance and profitability in the first quarter, including our 15.8% increase in adjusted EBITDA. Our Tank & Pump division is starting to show its real potential and delivered 35.3% growth in adjusted EBITDA with an adjusted EBITDA margin of 34.9%, which was a 520 basis point increase over last year.

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