U-Haul 2008 Annual Report Download - page 42

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RepWest will continue to provide loss adjusting and claims handling for U-Haul and underwrite components of
the Safemove, Safetow and Safestor protection packages to U-Haul customers.
Oxford is pursuing its goals of expanding its presence in the senior market through the sales of its Medicare
supplement, life and annuity policies. As part of this strategy, Oxford is attempting to grow its agency force and
develop new product offerings.
Quarterly Results (unaudited)
The quarterly results shown below are derived from unaudited financial statements for the eight quarters
beginning April 1, 2006 and ending March 31, 2008. The Company believes that all necessary adjustments have
been included in the amounts stated below to present fairly, and in accordance with generally accepted accounting
principles, such results. Moving and Storage operations are seasonal and proportionally more of the Company’ s
revenues and net earnings from its Moving and Storage operations are generated in the first and second quarters of
each fiscal year (April through September). The operating results for the periods presented are not necessarily
indicative of results for any future period.
March 31,
2008
December 31,
2007
September 30,
2007
June 30,
2007
Total revenues $ 432,960 $ 465,496 $ 596,388 $ 554,330
Earnings (loss) from operations (5,822) 8,359 109,126 92,059
Net earnings (loss) (14,048) (10,394) 50,474 41,752
Earnings (loss) available to common
shareholders (17,288) (13,635) 47,233 38,511
Weighted average common shares
outstanding: basic and diluted 19,544,707 19,746,237 19,733,755 19,937,152
Earnings (loss) per common share:
Basic and diluted $ (0.85) $ (0.69) $ 2.39 $ 1.93
Quarter Ended
(In thousands, except for share and per share data)
March 31,
2007
December 31,
2006 (a)
September 30,
2006 (a), (b)
June 30,
2006 (a)
Total revenues $ 441,846 $ 463,329 $ 601,682 $ 562,441
Earnings (loss) from operations (9,094) 8,146 126,133 110,043
Net earnings (loss) (15,660) (9,551) 60,418 55,346
Earnings (loss) available to common
shareholders (18,900) (12,792) 57,177 52,105
Weighted average common shares
outstanding: basic and diluted 20,682,087 20,922,433 20,910,204 20,897,688
Earnings (loss) per common share:
Basic and diluted $ (0.89) $ (0.61) $ 2.73 $ 2.49
Quarter Ended
(In thousands, except for share and per share data)
(a) The retroactive adoption of SAB 108 had the effect of decreasing operating and net earnings from amounts previously reported by $0.1
million for each of the first three quarters of fiscal 2007. The Company determined that the adjustment would not be material in any specific
period and therefore did not restate historical financial statements.
(b) The second quarter fiscal 2007 included a non-recurring amortization of $7.0 million, pre-tax on deferred charges related to a refinancing.
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