U-Haul 2008 Annual Report Download - page 29

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Fiscal 2007 Compared with Fiscal 2006
Listed below on a consolidated basis are revenues for our major product lines for fiscal 2007 and fiscal 2006:
2007 2006
Self-moving equipment rentals $ 1,462,470 $ 1,489,429
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 59,696 48,279
Other revenue 30,098 40,325
Consolidated revenue $ 2,069,298 $ 2,087,525
(In thousands)
Year Ended March 31,
During fiscal 2007, self-moving equipment rental revenues 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 further lowered self-moving rental revenues.
Self-storage revenues increased $6.7 million in fiscal 2007, compared with fiscal 2006 largely due to improved
pricing. During fiscal 2007, the Company increased rooms and square footage available primarily through build-outs
at existing facilities.
Sales of self-moving and self-storage products and services revenues increased $1.0 million in fiscal 2007,
compared with fiscal 2006. The Company continues to improve its visibility as a leading provider of propane,
moving supplies and towing accessories and offer new products and services in an effort to increase sales results.
Other revenues decreased $10.2 million in fiscal 2007, compared with fiscal 2006. Fiscal 2006 included several
non-recurring items.
Premiums at RepWest decreased $1.7 million with increases in U-Haul related premiums offset by reductions in
other lines.
Oxford’ s premium revenues increased approximately $1.6 million primarily due to an increase in Medicare
supplement premiums resulting from the acquisition of DGLIC.
As a result of the items mentioned above, revenues for AMERCO and its consolidated entities were $2,069.3
million for fiscal 2007, compared with $2,087.5 million for fiscal 2006.
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