U-Haul 2007 Annual Report Download - page 30
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24
F
isted below on a consolidated basis are revenues for our major product lines for fiscal 2007 and fiscal 2006:
Results of Operations
AMERCO and Consolidated Entities
iscal 2007 Compared with Fiscal 2006
L
2007 2006
Self-moving equipment rentals $ 1,476,579 $ 1,503,569
Self-storage revenues 126,424 119,742
Self-moving and self-storage product and service sales 224,722 223,721
Property management fees 21,154 21,195
Life insurance premiums 120,399 118,833
Property and casualty insurance premiums 24,335 26,001
Net investment and interest income 61,093 53,094
Other revenue 30,891 40,471
Consolidated revenue $ 2,085,597 $ 2,106,626
(In thousands)
Year Ended March 31,
During fiscal 2007, self-moving equipment rentals decreased $27.0 million, compared with fiscal 2006 with the
majority of the variance occurring during the second half of the year. The Company finished fiscal 2007 with
increases in one-way transactions along with increases in the average inventory of the truck fleet. However,
offsetting these factors were a decrease in average revenue per transaction primarily due to one-way pricing, the lack
of certain mid-size trucks during the spring and summer months of fiscal 2007 and decreased fleet utilization. The
Company’ s response to competitive pricing issues has further lowered self-moving rental revenues. The Company
now has a better inventory of certain mid-size trucks and is attempting to improve revenue per transaction; however,
if
Company has increased rooms and square footage available primarily through
b
e,
m
reased $9.6 million in fiscal 2007, compared with fiscal 2006. Fiscal 2006 included several
n
t RepWest decreased $1.7 million with increases in U-Haul related premiums offset by reductions in
ot
illion primarily due to an increase in Medicare
su
nd its consolidated entities were $2,085.6
million for fiscal 2007, compared with $2,106.6 million for fiscal 2006.
these issues continue our revenues may continue to be negatively impacted in the future.
Self-storage revenues increased $6.7 million in fiscal 2007, compared with fiscal 2006 largely due to improved
pricing. During fiscal 2007, the
uild-outs at existing facilities.
Sales of self-moving and self-storage products and service sales revenues increased $1.0 million in fiscal 2007,
compared with fiscal 2006. The Company continues to improve its visibility as a leading provider of propan
oving supplies and towing accessories and offer new products and services in an effort to increase sales results.
Other revenues dec
on-recurring items.
Premiums a
her lines.
Oxford’ s premium revenues increased approximately $1.6 m
pplement premiums resulting from the acquisition of DGLIC.
As a result of the items mentioned above, revenues for AMERCO a