General Finance Corporation Reports Fourth Quarter and 2010 Results

General Finance Corporation GFN today announced its consolidated financial results for the fourth quarter and year ended June 30, 2010. General Finance Consolidated Fourth Quarter Ended June 30, 2010 Results Compared to Fourth Quarter Ended June 30, 2009 Results --Total revenues increased by 15%, from $37.8 million in QE4 FY 2009 to $43.5 million in QE4 FY 2010; --Leasing revenues increased slightly, from $19.3 million in QE4 FY 2009 to $19.4 million in QE4 FY 2010; --Leasing revenues comprised 45% of total revenues in QE4 FY 2010 versus 51% in QE4 FY 2009; --Sales revenues increased approximately 31%, from $18.4 million in QE4 FY 2009 to $24.1 million in QE4 FY 2010; --Adjusted EBITDA(1) increased from $7.9 million in QE4 FY 2009 to $8.2 million in QE4 FY 2010; --Adjusted EBITDA margin as a percentage of total revenues decreased from 21% in QE4 FY 2009 to 19% in QE4 FY 2010; --A non-cash goodwill impairment charge of $7.6 million was recorded as a result of the adverse effect of the economic conditions in the United States on Pac-Van's valuation; --Interest expense increased from $2.8 million in QE4 FY 2009 to $4.2 million in QE4 FY 2010; and --The effect of foreign currency exchange resulted in a loss of $1.8 million for QE4 FY 2010, versus a $3.3 million gain in QE4 FY 2009 due to the weakening of the Australian dollar.