H&E Equipment Services, Inc., Baton Rouge, LA, reported sales in 2007 were $1 billion, up from $804.4 billion in 2006. Equipment rentals in 2007 were up 14% to $251.4 million. New equipment sales were up 47.2.
Fourth-quarter sales were up 34.4% to $289.7 million. Profit fell to $17.1 million, compared with $20.5 million a year ago.
Our fourth quarter results reflected solid year-over-year performance as we continued to experience strong new equipment sales due to the demand for cranes, resulting in a 68.3% increase. Rental revenues were also solid at an 18.5% increase, or a 13% increase excluding rental revenues from the Burress acquisition," said John Engquist, H&E Equipment Services'president and CEO.
H&E is a supplier of equipment for construction, earth-moving, compaction, paving and material handling customers.